Investigation Overview
May 15, 2015 (Shareholders Foundation) - An investigation on behalf of current long-term investors in shares of Eastern Co (NASDAQ:EML) shares was announced over potential breaches of fiduciary duties by certain officers and directors at Eastern Company.
The investigation by a law firm concerns whether certain Eastern Company officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
Eastern Company reported that its Total Revenue declined from $142.46 million for the 52 weeks period that ended on Dec. 28, 2013 to $140.83 million for the 53 weeks period that ended on Jan 3, 2015 and that its respective Net Income increased from $6.90 million to $7.66 million.
Shares of Eastern Co (NASDAQ:EML) grew from $15.48 per share in June 2014 to as high as $20.57 per share in April 2015.