September 1, 2015 (Shareholders Foundation) - An investigation on behalf of current long-term investors in shares of Iron Mountain Inc (NYSE:IRM) shares was announced over potential breaches of fiduciary duties by certain officers and directors at Iron Mountain.

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

Iron Mountain Inc reported that its annual Total Revenue rose from over $3.02 billion in 2013 to over $3.11 billion in 2014 and that its respective Net Income increased from $94.21 million to $317.81 million.

Shares of Iron Mountain Inc (NYSE:IRM) grew from $31.48 per share in October 2014 to as high as $40.75 per share in January 2015.

The investigation concerns investigating possible breaches of fiduciary duty by the Board of Directors of Iron Mountain in connection with the proposed acquisition by Iron Mountain of Recall Holdings Limited in a cash-and-stock transaction. To pay for the Transaction, Iron Mountain proposes to issue stock representing approximately 19% to 21% of its currently outstanding common stock to former Recall shareholders. Recall's stock price has fallen in value by almost 10% since the Transaction was first announced on April 28, 2015.