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Titanium Metals Corporation Investor Lawsuit Against Chairman Over Alleged Self-Dealing

  • If you purchased shares of Titanium Metals Corporation (NYSE:TIE) and continue to hold those NYSE TIE 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 case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Titanium Metals Corporation
Security
NYSE: TIE

Case Name
Titanium Metals Shareholder Derivative Action
Type of Lawsuit
Stockholder Derivative Action
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Summary

San Diego, Dec. 2, 2011 (Shareholders Foundation) -- An investor in shares of Titanium Metals Corporation (NYSE:TIE) filed a lawsuit against majority owner and Chairman of Titanium Metals Corp over alleged breaches of fiduciary duties through a history of alleged self-dealing with other entities he controls
According to the complaint the plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE: TIE stockholders.

Titanium Metals’ annual Revenue fell from $1.27billion in 2007 to $857.20million in 2010 and its Net Income fell from $268.20million to $80.70million. However, its third quarter Revenue increased from $210.30million last year to $262.50million and its third quarter Net Income rose from $21.50million one year earlier to $25.00milion this year.

Shares of Titanium Metals Corporation (Public, NYSE:TIE) rose from as low as $4.26 per share in March 09 to as high as over $22 per share in July 2010. However, NYSE TIE stocks traded during 2007 as high as $39.76 per share.

NYSE: TIE stocks dropped from roughly $19 per share in the end of July 2011 to $13.42 on August 08 after Titanium Metals Corporation reported on August 2, 2011 reported its second quarter 2011 results.