SAN DIEGO, Oct. 24, 2011 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit has been filed in State Court by current investors in the Janus Capital Group Inc. (JNS) against the board of directors and certain current and former executive officers of Janus Capital Group in connection with Janus Capital Group's 2010 compensation for its CEO and other executives.
Those who currently are investors in shares of the Janus Capital Group Inc. (JNS) and purchased their shares before April 2011, should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
According to the complaint the plaintiff alleges that the defendants breached their fiduciary duties owed to investors in NYSE:JNS stocks arising from defendants' allegedly unwarranted and excessive spending of Janus Capital Group (i.e., stockholders') funds on executive compensation.
Janus Capital Group's CEO earned a total compensation of $20.33million in 2010. The compensation included $10 million in restricted stock as well as a $306,287 relocation package, which included an $114,670 tax "gross-up."
Additionally, so the plaintiff, the Board of directors increased total executive compensation awarded to the top five senior officers of Janus Capital Group by 41% from 2009 to 2010, while the during 2010 Janus Capital Group 's stock price decreased by approximately 7%.
Recently Janus Capital Group stockholders voted on the Board of directors' proposed 2010 compensation for the company's senior officers, and an 'overwhelming' majority rejected the 2010 recommendation.
Those who purchased shares of Janus Capital Group Inc. (JNS) before April 2011 and hold those shares, should contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.