March 25, 2016 (Shareholders Foundation) - An investigation on behalf of current long-term investors in shares of La Quinta Holdings Inc (NYSE:LQ) was announced over potential breaches of fiduciary duties by certain officers and directors at La Quinta Holdings.

The investigation by a law firm concerns whether certain La Quinta Holdings directors breached their fiduciary duties and caused damage to the company and its shareholders. The investigation concerns also whether certain public filings made by La Quinta Holdings in connection with the Companys initial public offering (IPO) and the subsequent secondary offerings complied with federal securities laws.

La Quinta Holdings Inc reported that its annual Total Revenue rose from $873.89 million in 2013 to $976.94 million in 2014 while its Net Income of $3.98 million in 2013 declined to a Net Loss of $337.30 million in 2014.

Shares of La Quinta Holdings Inc (NYSE:LQ) grew from $16.38 per share in May 2014 to as high as $24.89 per share in May 2015.

On September 17, 2015, post-market, La Quinta Holdings Inc announced the resignation of CEO Wayne Goldberg, following a 'mutual agreement' with the company's board. Additionally, La Quinta reduced its 2015 revenue per available room guidance following weaker than expected demand in August and September.

Shares of La Quinta Holdings Inc (NYSE:LQ) declined to as low as $15.69 per share on September 18, 2015.