Hercules Offshore, Inc. : Board of Directors Under Investigation by Law Offices of Howard G. Smith
06/05/2012| 05:30pm US/Eastern
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Law Offices of Howard G. Smith announces that it is investigating
potential claims against Hercules Offshore, Inc. ("Hercules" or the
"Company") (Nasdaq: HERO) and its Board of Directors related to the
Company's compensation package for its CEO and other executives.
The investigation concerns whether the Board of Directors breached their
fiduciary duties by awarding themselves excessive compensation despite
approximately 52 percent of the Company's shareholders voting "no" on
Hercules' "say on pay provision" at the Company's annual meeting.
Hercules' CEO compensation increased 110% year-over-year from 2010 to
2011. The Company's share price has plummeted from a high of $3.48 at
the end of 2010 to currently approximately $3.03 per share.
If you are a shareholder of Hercules, if you have information or would
like to learn more about these claims, or if you wish to discuss these
matters or have any questions concerning this announcement or your
rights or interests with respect to these matters, please contact Howard
G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike,
Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847,
Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com,
or visit our website at http://www.howardsmithlaw.com.
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
Toll
Free: 888-638-4847
howardsmith@howardsmithlaw.com
© Business Wire 2012
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