August 13, 2013 (Shareholders Foundation) - An investigation on behalf of investors who purchased shares of Legg Mason Inc (NYSE:LM) was announced concerning whether certain Legg Mason officers and directors possibly breached their fiduciary duties in connection with certain statements.

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

Legg Mason Inc reported that its Total Revenue declined from over $2.78 billion for the 12 months period that ended on March 31, 2011 to over $2.61 billion for the 12 months period that ended on March 31, 2013, and that its Net Income of $253.92 million for the 12 months period that ended on March 31, 2011 declined to a Net Loss of $353.33 million for the 12 months period that ended on March 31, 2013.

Shares of Legg Mason Inc (NYSE:LM) declined from $37.27 per share in April 2011 to $23.43 per share in May 2012. However, NYSE:LM shares regained value and reached $34.16 per share in May 2013.

On August 12, 2013, NYSE:LM shares closed at $33.53 per share.