The Shareholders Foundation announces that an investigation on behalf of current long-term investors in shares of Cintas Corporation (NASDAQ:CTAS) shares was launched over potential breaches of fiduciary duties by certain officers and directors at Cintas.
Investors who purchased shares of Cintas Corporation (NASDAQ:CTAS) and currently hold any of those Cintas Corporation (NASDAQ:CTAS shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain Cintas officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
Cintas Corporation reported that its Total Revenue rose from over $3.81 billion for the 12 months period that ended on May 31, 2011 to over $4.55 billion for the 12 months period that ended on May 31, 2014 and that its respective Net Income increased from $246.99 million to $374.44 million.
Shares of NASDAQ:CTAS grew from $18.46 per share in March 2009 to as high as $67.19 per share on September 15, 2014.
The Total Compensation of certain top officials at Cintas Corporation grew from 2012 to 2014. For instance, the CEO’s total pay rose from over $3.37 million in 2012 to over $4.7 million in 2013 and the CFO’s total compensation grew from over $1.41 million to over $1.77 million.
On October 21, 2014, Cintas Corporation will hold its annual meeting of shareholders. Among other things shareholders of Cintas Corporation are asked to vote on nine nominees to elect as directors, to approve the named executive officer compensation, and approve the amendment No.4 to the Cintas Corporation 2005 Equity Compensation Plan. Among other things, the Amendment No. 4 to the Cintas Corporation 2005 Equity Compensation Plan also increases the number of shares of common stock, no par value, of the Company, available for issuance under the 2005 Equity Compensation Plan (and also the plan limit on incentive stock options) from 14,000,000 shares to 21,000,000 shares.
On October 6, 2014, NASDAQ CTAS shares closed at $69.90 per share.
Those who purchased shares of Cintas Corporation have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com