Curtiss-Wright Corp. Under Investor Investigation Over Executive Compensation

If you are a current long term investor in Curtiss-Wright Corp. (NYSE CW) 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.

To have your information reviewed for options and to recieve notifications about this investigation, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Curtiss-Wright
Affected Securities: 
NYSE: CW

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

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

Curtiss-Wright’s CEO earned about $7.948million in 2010, its CFO $2.5million, its COOs $3.084million respectively $3.046million, and its VP and General Counsel $1.774million. Overall executive compensation increased approximately 10% from 2009 levels.

However, Curtiss-Wright’s shareholders recently expressed their disdain for executive pay packages by voting “no” on Curtiss-Wright's say on pay provision. Curtiss-Wright Corporation received only about 41% support for its pay practices at its May 6 annual meeting, according to a company filing.

The investigation concerns possible claims that the prior compensation awarded at Curtiss-Wright Corporation is improper based upon its current operating condition.

Even though NYSE: CW stocks increased from as low as $23.26 per share in March 09 to $38.02 in March 2011, Curtiss-Wright Corp. (NYSE:CW) shares fell from as high as $54.56 in August 2008, respectively $55.30 in October 07.

The investigation seeks to determine whether certain senior officers and executives at Curtiss-Wright Corp. were awarded salaries, bonuses, stock options and other forms of long-term, ‘incentive’ or retirement compensation that were excessive or unwarranted based on the Curtiss-Wright’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 NYSE:CW stockholders to more efficiently influence or control future compensation decisions at Curtiss Wright Corp.