NEW YORK, June 28, 2011 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP is investigating Ameron International Corporation ("Ameron" or the "Company"), and its Board of Directors, in connection with the Company's 2010 compensation package for the Ameron CEO and other executives.
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On March 30, 2011, 57.7% of Ameron's shareholders voted "no" on the Company's say on pay provision. The investigation concerns whether certain senior officers and executives of Ameron were awarded excessive salaries, bonuses, and/or other forms of compensation. In 2010 Ameron's CEO, James Marlen, earned $3.93 million, while the Company's CFO earned $2.11 million. Ameron's revenue has decreased over the past four filing periods, from $631 million to $503 million, net income has declined from about $67 million to $46 million, and the Company's shares have been trading sideways at about $60 per share, down from $130 share price in 2008.
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