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NutriSystem Inc. Investor Files Shareholder Derivative Lawsuit In Connection With Executive Compensation

  • If you are a current long term investor in NutriSystem Inc. (NASDAQ: NTRI) stock, you have certain options and you should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
NutriSystem
Security
NASDAQ: NTRI

Case Name
NutriSystem Shareholder Derivative Action 08/12/2011
Type of Lawsuit
Shareholder Class Action
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Summary

San Diego, Aug 15, 2011 (Shareholders Foundation) -- An investor in shares of NutriSystem Inc. (NASDAQ:NTRI) filed a lawsuit against members of the Nuytrisystem’s Board of Directors and certain of its current and former executive officers in connection with NutriSystem's 2010 compensation for its CEO and other executives
According to the complaint the plaintiff alleges that the defendants breached their fiduciary duties owed to investors in NASDAQ:NTRI stocks in connection with the award of excessive and unwarranted 2010 executive compensation.

The plaintiff claims that despite declining financial performance NutriSystem overpaid certain executive.

In Fact, NutriSystem’s 12 months Total Revenue decreased from $776.77million in 2007 to $509.51million in 2010. Its Net Income dropped from $104.15million in 2007 to $33.88million in 2010.

Shares of NutriSystem Inc. (Public, NASDAQ:NTRI) traded in 2006 as high as $73.60 and during 08 as high as $71.88 per NTRI share. During 2009 NTRI shares traded as low as $11.70 and as high as $33.24 per share.

Nevertheless, NutriSystem’s CEO eanred a total compensation of $5.26million in 2010.

But NutriSystem’s shareholders recently expressed their disdain for executive pay packages by voting “no” on NutriSystem's say on pay provision, according to a company filing.