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If you are a current long-term stockholder of shares of Electro Rent Corporation (NASDAQ:ELRC), you have certain options and you should contact the Shareholders Foundation, Inc.
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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
Sept. 24, 2012 (Shareholders Foundation) -- Certain officers and directors of Electro Rent Corporation are currently under investigation concerning whether they breached their fiduciary duties by paying certain top officials at Electro Rent Corporation excessive compensation.
The investigation by a law firm focuses on whether certain directors and officers of Electro Rent Corporation harmed the company by agreeing to pay certain of Electro Rents senior officers and executives excessive compensation.
Electro Rent Corporation (NASDAQ:ELRC) reported that its Total Revenue rose from $228.73 million for the 12 months period that ended on May 31, 2011 to $248.55 million for the 12 months period that ended on May 31, 2012 and its Net Income for the respective time periods increased from $23.76 million to $25.77 million.
Shares of Electro Rent Corporation (NASDAQ:ELRC) rose from $8.43 per share in May 2009 to as high as $18.71 per share in February 2012.
The total compensation of certain top officials at Electro Rent Corporation increased from 2010 to 2012. For instance the Chairman of the Board and CEOs pay rose from over $656,000 in 2010 to over $871,000 in 2012, and the President and COOs compensation rose from over $883,000 in 2010 to over $911,000 in 2012.
