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If you are a former and current employees of Helix Energy Solutions Group, who are or were participants or beneficiaries of the Helix Energy Solutions Group employee pension plan and currently hold Helix Energy Solutions (NYSE: HLX) stock, and/or have any information relating the investigation, 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
An investigation on behalf of former and current employees of Helix Energy Solutions Group Inc, who are or were participants or beneficiaries of the Helix Energy Solutions Group employee company stock option plan and/or currently hold Helix Energy Solutions Group (NYSE: HLX) stock over possible breaches of fiduciary duties in connection with Helix Energy Solutions Groups executive compensation practices was announced.
The investigation by a law firm focuses on possible breaches of fiduciary duties related to potential excessive compensation that was awarded to certain senior officers and executives at Helix Energy Solutions Group based upon its current operating condition and that was improper compared to what senior officers and executives at comparable companies were making.
Helix Energy Solutions Groups 12months Total Revenue declined from $1.732billion in 07, respectively $2.114billion in 2008 to $1.199billion in 2010. Its Net Income fell within the same time frame from a Net Income of $315.70million in 2007 to a Net Loss of $635.93million in 2008 and a Net Loss of $126.99million in 2010.
Even though shares of Helix Energy Solutions Group Inc. (Public, NYSE:HLX) rose from as low as $3.11 during February 2009 to as high as $18.93 per share in April 2011, NYSE HLX stock fell from as high as over $40 in 2008, respectively almost $46 per share in 2007 and are currently trading at less than 50% of its value from mid 2008.
However, Helix Energy Solutions Groups CEO earned roughly $4million in 2010, its CFO $2.14million, its EVP and General Counsel $1.66million, its COO $2.55million, and its former EVP Oil & Gas $3.16million.
Helix Energy Solutions Groups shareholders recently expressed their disdain for executive pay packages by voting no on Helix Energy Solutions Group's say on pay provision. Helix Energy Solutions Group Inc received only a little over 30% support for its pay practices at its May 11 annual meeting, according to a company filing.
Former (or current) employees of Helix Energy Solutions Group, who currently hold stocks of Helix Energy Solutions Group Inc. (NYSE: HLX), may be eligible to file a complaint against certain directors and officers, so the investigation.
