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Sothebys (NYSE:BID) Investor Investigation Concerning Potential Breaches Of Fiduciary Duties Announced

  • If you purchased shares of Sothebys (NYSE:BID) shares, 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 investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Investigation Overview

Company
Sothebys
Security
NYSE: BID

Summary

April 11, 2014 (Shareholders Foundation) - An investigation on behalf of investors in Sothebys (NYSE:BID) shares over potential breaches of fiduciary duties by certain officers and directors at Sothebys.

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

Sothebys reported that its annual Total Revenue declined from $831.84 million in 2011 to $768.49 million in 2012. Shares of Sothebys (NYSE:BID) declined from over $40 per share in February 2012 to as low as under $30 per share in November 2012.

Sothebys reported that its annual Total Revenue rose from $768.49 million in 2012 to $853.68 million in 2013 and that its respective Net income increased from $108.29 million to $130.01 million.

Shares of Sothebys (NYSE:BID) grew from $28.86 per share in November 2012 to as high as $53.51 per share in January 2014.

On April 11, 2014, NYSE:BID shares closed at $40.14 per share.

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