An investigation on behalf of former and current employees of Hercules Offshore, Inc., who are or were participants or beneficiaries of the Hercules Offshore employee company stock option plan and/or currently hold NASDAQ: HERO stock over possible breaches of fiduciary duties in connection with Hercules Offshores 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 Hercules Offshore, Inc. based upon its current operating condition and that was improper compared to what senior officers and executives at comparable companies were making.

An investor in shares of Hercules Offshore, Inc. (NASDAQ: HERO) already filed a lawsuit against directors over alleged breaches of fiduciary duty in connection with Hercules executive pay.
According to the complaint the plaintiff alleges the defendants breached their fiduciary duties for agreeing to overpay its executives.

Hercules Offshores CEO pay rose from about $1.317million in 2009 to $2.516million in 2010 and its CFOs compensation increased from $333,000 in 09 to $963,000 in 2010. Overall every top officer at Hercules Offshore, Inc. received a substantial increase in total compensation in 2010 compared to 2009.

Hercules Offshores shareholders recently expressed their disdain for executive pay packages by voting no on Hercules Offshore's say on pay provision. Hercules Offshore, Inc. received 59% opposition against its pay practices at its May 10 annual meeting, according to a company filing.

In fact the Hercules Offshores CEO compensation rose over 90% despite decreasing annual Revenue and lower stock prices

Hercules Offshores 12months Revenue fell from $1,111.81million in 2008 to $657.48million in 2010. For 2008 Hercules Offshore, Inc. reported a Net Loss of $1,083.39million.

Even though shares of Hercules Offshore, Inc. (NASDAQ:HERO) increased from as low as $1.16 per share in March 09 to recently $6.44 in May 2011, NASDAQ: HERO stocks had fallen before from as high as $38.31 per share in June 08.

Former (or current) employees of Hercules Offshore, who currently hold stocks of Hercules Offshore . (NASDAQ: HERO), may be eligible to file a complaint against certain directors and officers, so the investigation.