Ameron International Corporation Under Investor Investigation Over Executive Compensation

If you are a current long term investor in Ameron International Corporation (NYSE: AMN) stock and/or if you have any information relating the investigation including whistleblowers and former employees, you have certain options and you should contact the Shareholders Foundation, Inc.

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Company Name(s): 
Ameron International
Affected Securities: 

An investigation on behalf of current long term investors in shares of Ameron International Corporation (NYSE: AMN) concerning possible breaches of fiduciary duties related to potential excessive compensation that was awarded to certain senior officers and executives at Ameron Intl. Corp. was announced.

The investigation by a law firm focuses on whether the directors and officers of Ameron International Corp.harmed the company by breaching their fiduciary duties to shareholders. In particular the investigation on behalf of current long term investors in Ameron Intl Corp (NYSE AMN) focuses on possible shareholder claims that certain of Ameron Intl’s senior officers and executive were unjustly enriched through their receipt of unwarranted, excessive or unearned compensation in past years.

Ameron Intl.’s CEO earned in 2010 $3.93million and its CFO $2.11million

However, Ameron Intl’s shareholders recently expressed their disdain for executive pay packages by voting “no” on Ameron's say on pay provision. Ameron International Corporation (Public, NYSE:AMN) received 57.7% opposition against its pay practices at its March 30 annual meeting, according to a company filing.

The investigation concerns possible claims that the prior compensation awarded at Ameron International is improper based upon its current operating condition.

Ameron Intl’s 12months Total Revenue decrease over the past four filing periods from $631.01million to $503.26million. Its Net Income declined from $67.24million to $46.25million.

Even though shares of Ameron International Corporation (Public, NYSE:AMN) rose from as low as $33.30 per share in November 08 to $84.11 in December 2010, respectively $80.94 in January 2011, NYSE AMN stock fell from over $130 per share in August 2008 and traded recently with slightly above $60 per shares at roughly 50% of its August 2008 value.

The investigation seeks to determine whether certain senior officers and executives at Ameron Intl Corporation were awarded salaries, bonuses, stock options and other forms of long-term, ‘incentive’ or retirement compensation that were excessive or unwarranted based on the Ameron Intl’s performance as compared to what senior officers and executives at comparable companies were making and/or results that were fraudulent, misleading or not long-lasting.

Finally the investigation focuses also on possible shareholder claims that would allow Ameron International (NYSE:AMN) stockholders to more efficiently influence or control future compensation decisions at Ameron Intl Corporation.