An investigation for investors in NYSE:TIME shares was announced over potential breaches of fiduciary duties by certain Time Inc directors.
Investors who purchased shares of Time Inc (NYSE:TIME) and currently hold any of those NYSE:TIME 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 Time directors breached their fiduciary duties and caused damage to the company and its shareholders.
On February 11, 2016, media company Time Inc reported its financial results for its fourth quarter and year ended December 31, 2015 and issued its outlook for 2016. Time Inc reported that its annual Total Revenue declined from over $3.28 billion in 2014 to over $3.1 billion in 2015 and that its Net Income of $87 million declined to a Net Loss of $881.00 million in 2015.
Shares of New York based Time Inc (NYSE:TIME) declined from as high as $25.62 per share in July 2014 to as low as $12.23 per share on February 11, 2016.
On May 20, 2016, NYSE:TIME shares closed at $14.49 per share.
Those who purchased NYSE:TIME shares 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