RealD (NYSE:RLD) Investor Investigation Over Possible Breaches Of Fiduciary Duties Announced

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Company Name(s): 
RealD
Affected Securities: 
NYSE: RLD

January 20, 2015 (Shareholders Foundation) - An investigation on behalf of current long-term investors in shares of RealD (NYSE:RLD) shares was announced over potential breaches of fiduciary duties by certain officers and directors at RealD.

The investigation by a law firm concerns whether certain RealD officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.

RealD reported that its Total Revenue declined from $215.55 million for the 12 months period that ended on March 31, 2013 to $199.23 million for the 12 months period that ended on March 31, 2014 and that its respective Net Loss increased from $9.69 million to $11.41 million. Shares of RealD (NYSE:RLD) grew from $7.00 per share in November 2013 to as high as $12.76 per share in June 2014.

On January 8, 2015, RealD disclosed that on January 5, 2015, Ms. Heather O’Connor announced her resignation as Senior Vice President, Finance and Chief Accounting Officer of RealD Inc., effective January 16, 2015, to accept a position with another company. Shares of RealD (NYSE:RLD) declined from $11.92 per share on January 2, 2015 to as low as $10.81 per share on January 12, 2015.