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If you are a current long-term stockholder of shares of Sparton Corporation (NYSE:SPA), you have certain options and you should contact the Shareholders Foundation, Inc.
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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
Sept. 21, 2012 (Shareholders Foundation) -- Certain officers and directors of Sparton Corporation are currently under investigation concerning whether they breached their fiduciary duties by paying certain top officials at Sparton Corporation excessive compensation.
The investigation by a law firm focuses on whether certain directors and officers of Sparton Corporation harmed the company by agreeing to pay certain of Spartons senior officers and executives excessive compensation.
Sparton Corporation (NYSE:SPA) reported that its Total Revenue rose from $173.98 million for the 12 months period that ended on June 30, 2010 to $223.58 million for the 12 months period that ended on June 20, 2012.
However its Total Revenue was $221.87 million for the 12 months period that ended on June 30, 2009, before it fell to from $173.98 million for the 12 months period that ended on June 30, 2010.
The compensation of certain top officials at Sparton Corporation increased significantly from the Fiscal year 2011 to its Fiscal Year 2012. For instance, the President and CEOs total pay rose from over $735,000 in the FY 2011 to over $1.4 million in the FY 2012 and the CFOs total compensation increased from over $355,000 in the FY 2011 to over $496,000 in the FY 2012.
Shares of Sparton Corporation (NYSE:SPA) closed on September 21, 2012, at $12.29 per share.
