Jan. 15, 2013 (Shareholders Foundation) -- An investigation on behalf of current long term investors in shares of Headwaters Inc (NYSE:HW) was announced concerning whether certain officers and directors of Headwaters Inc breached their fiduciary duties by paying certain top officials at Headwaters Inc excessive compensation.
The investigation by a law firm focuses on whether certain directors and officers of Headwaters Inc harmed the company by agreeing to pay certain of Headwaters senior officers and executives excessive compensation.
Headwaters Inc (NYSE:HW) reported that its Total Revenue rose from $587.96 million for the 12 months period that ended on Sept. 30, 2011 to $632.79 million for the 12 months period that ended on Sept. 30, 2012 and its Net Loss for the respective time periods decreased from $229.92 million to $62.25 million.
The Total Compensation of certain top officials at Headwaters Inc (NYSE:HW) increased between 2011 and 2012. For instance, the CEOs pay rose from over $2 million in 2011 to over $3.7 million in 2012 and the CFOs compensation increased from over $640,000 in 2011 to over $900,000 in 2012.
Shares of Headwaters Inc (NYSE:HW) grew from as low as $1.32 per share in October 2011 to $9.40 per share on Jan. 14, 2013.