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Regis Corporation Under Investor Investigation Over Potential Breaches Of Fiduciary Duties

  • If you purchased shares of Regis Corporation (NYSE: RGS), and / or if you have any information relating the investigation including those who are former employees or/and whistleblowers, you may have certain options and you should contact the Shareholders Foundation, Inc.

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

Investigation Overview

Company
Regis Corporation
Security
NYSE: RGS

Summary

San Diego, Oct. 28, 2011 (Shareholders Foundation) -- An investigation on behalf of investors in shares of Regis Corporation (NYSE:RGS) over possible breaches of fiduciary duties by certain officers and directors was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Regis Corporation (Public, NYSE:RGS) concerning whether certain of its officers and directors, or others have possibly breached their fiduciary duties by giving certain company executives allegedly excessive raises despite that shareholders explicitly rejected them.

Regis Corporations Total Revenue decreased from $2.48billion for a 12months period ending on June 30, 2008 to $2.35billion for a 12months period ending on June 30, 2010 and $2.32billion for a 12months period ending on June 30, 2011. Its Net Income fell from $85.20million to $42.74million and lately a Net Loss of $8.90million.

Shares of Regis Corporation (Public, NYSE:RGS) rose from $.949 in November 08 to slightly over $21 per share in November 2010. However, NYSE RGS shares traded during 08 as high as $31.46 per share and in February 2007 as high as $43.11 per share. Furthermore, since November 2010 NYSE: RGS shares fell to as low as $13.40 in September 2011.


Some salaries of certain top officers at Regis Corporation increased from 2009 to 2010 and from 2009 to 2011. The Chairman of the Board of Directors and Chief Executive Officers base salary rose from $1.2million in 2009 to $1.42million in 2010, respectively $1.34million for 2011. The Presidents base salary rose from about $665,000 in 2009 to roughly $717,000 in 2010. The base salaries for the Executive VP Fashion, Education and Marketing - increased from about $498,000 in 09 to $540,000 in 2010, respectively $550,000 in 2011, the base salary of the Executive VP Regis Corp /President, Franchise Division grew from about $462,000 in 09 to $505,000 for 2010 and $519,000 in 2011, and the salary of the Executive VP Design and Construction- increased from roughly $382,000 in 09 to $412,000 in 2010 and $419,000 in 2011.

But Regis Corporations shareholders recently expressed their disdain for executive pay packages by voting no on Regis' say on pay provision.

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