FedEx Corporation (NYSE:FDX) Investor Investigation Over Potential Breaches Of Fiduciary Duties In Connection with Executive Compensation

If you are a current long-term stockholder of shares of FedEx Corporation (NYSE:FDX), you have certain options and you should contact the Shareholders Foundation, Inc.

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July 18, 2014 (Update) - On July 17, 2014, the FDA announces that the U.S. Attorney for the Northern District of California charged the FedEx Corporation with conspiring with two separate but related online pharmacy organizations to distribute controlled substances and prescription drugs to U.S. consumers without requiring their customers to have a valid prescription, as required by the Federal Food, Drug, and Cosmetic Act. The FDA said that according to the indictment, as of July 2004, FedEx Corporation employees had identified over 200 accounts that were associated with online pharmacies and by September of 2010, the list had increased to over 600 online pharmacy accounts.
On July 17, 2014, FedEx Corporation announced in a regulatory filing that it has received, "requests for information from the U.S. Department of Justice ("DOJ") in the Northern District of California in connection with a criminal investigation relating to the transportation of packages for online pharmacies that may have shipped pharmaceuticals in violation of federal law. On July 17, 2014, the DOJ filed a criminal indictment in the United States District Court for the Northern District of California in connection with the matter. The indictment alleges that FedEx Corporation, FedEx Express and FedEx Services, together with certain pharmacies, conspired to unlawfully distribute controlled substances, unlawfully distributed controlled substances and conspired to unlawfully distribute misbranded drugs."

Aug. 21, 2012 (Shareholders Foundation) -- Certain officers and directors of FedEx Corporation (NYSE:FDX are currently under investigation concerning whether they breached their fiduciary duties by paying certain top officials at FedEx Corporation excessive compensation.

The investigation by a law firm focuses on whether certain directors and officers of FedEx Corporation harmed the company by agreeing to pay certain of FedEx Corporation’s senior officers and executives excessive compensation.

FedEx Corporation (NYSE:FDX) reported that its Total Revenue rose from $39.3 billion for the 12months period that ended on May 31, 2011, to $42.68 billion for the 12months period that ended on May 31, 2012 and its Net Income over the respective time periods increased from $1.45 billion to $2.03 billion.

Shares of FedEx Corporation (NYSE:FDX) traded in July 2011 as high as $97.56 per share and reached in the first half of 2012 $95.27 per share. On August 20, 2012, NYSE:FDX shares closed at $89.98 per share.

The compensation of certain top officers at FedEx Corporation (NYSE:FDX) rose significantly from 2011 to 2012. For instance its Chairman, President and CEO’s pay rose from over $7.26 million in 2011 to over $13.68 million in 2012 and the CFO’s compensation increased from over $3.86 million in 2011 to over $6.36 million in 2012.