Investigation Overview
Oct. 09, 2012 (Shareholders Foundation) -- An investigation on behalf of investors in shares of JDS Uniphase Corp (NASDAQ:JDSU) was announced concerning whether certain officers and directors of JDS Uniphase Corp breached their fiduciary duties by paying certain top officials at JDS Uniphase Corp excessive compensation.
The investigation by a law firm focuses on whether certain directors and officers of JDS Uniphase Corp harmed the company by agreeing to pay certain of JDS Uniphases senior officers and executives excessive compensation.
JDS Uniphase Corp (NASDAQ:JDSU) reported that its Total Revenue fell from over $1.8 billion for the 52 weeks period that ended on July 2, 2011 to over $1.68 billion for the 52 weeks period that ended on June 30, 2012 and its Net Income fell from $71.60 million for the 52 weeks period that ended on July 2, 2011 to a Net Loss of $55.60 million billion for the 52 weeks period that ended on June 30, 2012.
Shares of JDS Uniphase Corp (NASDAQ:JDSU) fell from as high as $28.16 per share in February 2011 to as low as $9.00 per share in July 2012.
The total compensation of certain to officials increased from 2010 to 2012. For instance the CEO and Presidents total pay rose from over $2.31 million in 2010 to over $5.77 million in 2012, and the Executive VO and CFOs compensation increased from over $1.05 million in 2010 to over $1.71 million in 2012.
On October 5, 2012, NASDAQ:JDSU shares closed at $11.36 per share.