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Provectus Pharmaceuticals, Inc. (OTC:PVCT) Investor Files Lawsuit Over Alleged Breaches Of Fiduciary Duties In Connection With Certain Executive Compensation

  • If you are acurrent long-term stockholder of shares of Provectus Pharmaceuticals, Inc. (OTC:PVCT), 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
Provectus Pharmaceuticals, Inc.
Security
OTC: PVCT

Case Name
Provectus Pharmaceuticals Shareholder Derivative Lawsuit 01/14/2013
Type of Lawsuit
Stockholder Derivative Action
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Summary

Jan. 15, 2013 (Shareholders Foundation) -- An investor in shares of Provectus Pharmaceuticals, Inc. (OTC:PVCT) filed a lawsuit against directors of Provectus Pharmaceuticals, Inc. over alleged breaches of fiduciary duties in connection with certain compensation that was awarded to certain executives at Provectus Pharmaceuticals, Inc.
The plaintiff alleges that Provectus Pharmaceuticals, Inc. awarded over 7 million stock options to four executives in two years, despite the limit of 100,000 per person per year set by the stock plan.

Provectus Pharmaceuticals, Inc. (OTC:PVCT) reported that its Net Loss increased from $18.55 million in 2010 to $19.43 million in 2011.

Shares of Provectus Pharmaceuticals, Inc. (OTC:PVCT) declined from as high as $1.675 per share in March 2010 to as low as $0.52 per share in Nov. 2012.

On Jan. 14, 2013, OTC:PVCT closed at $0.66 per share.