Jan. 15, 2013 (Shareholders Foundation) -- An investigation on behalf of current long term investors in shares of New Jersey Resources Corp (NYSE:NJR) was announced concerning whether certain officers and directors of New Jersey Resources Corp breached their fiduciary duties by paying certain top officials at New Jersey Resources excessive compensation.

The investigation by a law firm focuses on whether certain directors and officers of New Jersey Resources Corp harmed the company by agreeing to pay certain of New Jersey Resources senior officers and executives excessive compensation.

New Jersey Resources Corp (NYSE:NJR) reported that its Total Revenue declined from over $3 billion for the 12 months period that ended on Sept. 30, 2011 to over $2.24 billion for the 12 months period that ended on Sept. 30, 2012 and that its Net Income for the respective time periods declined from $101.30 million to $92.88 million.

The Total Compensation of certain top officials at New Jersey Resources Corp increased between 2011 and 2012. For instance the Executive VP and CFOs pay increased from over $823,000 in 2011 to over $1.07 million in 2012 and the Executive VP and OOs compensation rose from over $794,000 in 2011 to over $963,000 in 2012.

Shares of New Jersey Resources Corp (NYSE:NJR) traded in December 2011 as high as $49.20 per share and declined in December 2012 to as low as $39.03 per share.

On Jan. 15, 2013, NYSE:NJR shares closed at $40.38 per share.