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Baker Hughes Incorporated (NYSE:BHI) Investor Investigation Concerning Potential Breaches Of Fiduciary Duties Announced

  • If you purchased shares of Baker Hughes Incorporated (NYSE:BHI) and currently hold any of those NYSE:BHI shares, you have certain options and you should contact the Shareholders Foundation, Inc

  • To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Investigation Overview

Company
Baker Hughes Incorporated
Security
NYSE: BHI

Summary

November 14, 2014 (Shareholders Foundation) - An investigation on behalf of current long-term investors in shares of Baker Hughes Incorporated (NYSE:BHI) shares was announced over potential breaches of fiduciary duties by certain officers and directors at Baker Hughes.

The investigation by a law firm concerns whether certain Baker Hughes officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.

On January 21, 2014, Baker Hughes Incorporated announced its fourth quarter and annual results for 2013.

Baker Hughes Incorporateds annual Total Revenue rose from over $19.83 billion in 2011 to over $22.36 billion in 2013 its respective Net Income declined from over $1.73 billion in 2011 to over $1.09 billion in 2013.
On April 17, 2014, Baker Hughes Incorporated announced its first quarter 2014 results. Among other things, Baker Hughes Incorporated reported that its first quarter Revenue rose from over $5.23 billion in 2013 to over $5.73 billion in 2014 and that its first quarter Net Income increased from $267 million in 2013 to $328 million in 2014.
Shares of Baker Hughes Incorporated (NYSE:BHI) grew from under $40 per share in 2012 to as high as $75.06 per share in early July 2014.

On July 17, 2014, Baker Hughes reported its second quarter financial results. Baker Hughes Incorporated announced that its second quarter Revenue rose from over $5.48 million in 2013 to over $5.93 billion in 2014 and that its second quarter Net Income increased from $240 million in 2013 to $353 million in 2014.
On October 16, 2014, Baker Hughes Incorporated announced its third quarter financial results. Baker Hughes Incorporated reported that its third quarter Revenue rose from over $5.78 billion in 2013 to $6.25 billion in 2014 and that its third quarter Net Income increased from $341 million in 2013 to $375 million in 2014.

However, since July 2014 NYSE:BHI shares declined significantly. In fact, NYSE:BHI shares declined from over $75 per share in early July 2014 to as low as $47.51 per share on October 16, 2014.

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