Shareholder Investigation - American Greetings Corporation
American Greetings Corporation Stock Option Backdating Investigation
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21.10.2009 18:58:42 Investigation on behalf of current investors in American Greetings Corporation (Public, NYSE:AM) over possible breaches of fiduciary duty - Contact the Shareholders Foundation, Inc. at mail@shareholdersfoundation.com
(live-PR.com) - An investigation on behalf of current investors of American Greetings Corporation (Public, NYSE:AM) over possible shareholder claims arising out of potential stock option backdating was announced.
If you currently hold American Greetings Corporation (NYSE:AM) shares you have certain options and you should contact the Shareholders Foundation, Inc at Email: mail@shareholdersfoundation.com or at: +1 (858) 779 - 1554. According to the investigation
by a law firm the investigation focuses on shareholder claims that certain American Greetings Corporation’s officers and directors received backdated stock options, where the date of stock options the company awards are changed to coincide with big moves in the company's stock price. AMER GREETINGS CL-A (NYSE: AM) operates predominantly in a single industry: the design, manufacture and sale of everyday and seasonal greeting cards and other social expression products. Greeting cards, gift wrap, party goods, stationery and giftware are manufactured or sold by American Greetings Corp. in North America, including the United States, Canada and Mexico, and throughout the world, primarily in the United Kingdom, Australia and New Zealand. The corporate insiders and executives of some companies have, so the investigation, apparently been granted stock options that were miraculously awarded just before a large run-up, obviously making those options more valuable. According to the investigation numerous stock options at American Greetings Corporation were backdated or misdated over numerous years, and that, as a result, the certain officers & directors of American Greetings Corp. have been unjustly enriched and American Greetings Corp.’s financial statements have been false & misleading for a multi-year period.
American Greetings Corp. is located in Cleveland, Ohio and reported in 2007 (ending on 02/29/08) Total Revenue of $1.77645billion with a Net Income of $83million and in 2008 (ending on 02/28/09) Totel Revenue of $1.69074billion. The shares of American Greetings Corporation (NYSE:AM) traded recently at $22.45 per share, and over $28 per share in 2007. AM shares were down to $3.24 within its 52weekLow.
Those who currently hold American Greetings Corporation (NYSE:AM) shares, have certain options and should contact the Shareholders Foundation.
If you currently hold American Greetings Corporation (NYSE:AM) shares you have certain options and you should contact the Shareholders Foundation, Inc at Email: mail@shareholdersfoundation.com or at: +1 (858) 779 - 1554. According to the investigation
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American Greetings Corp. is located in Cleveland, Ohio and reported in 2007 (ending on 02/29/08) Total Revenue of $1.77645billion with a Net Income of $83million and in 2008 (ending on 02/28/09) Totel Revenue of $1.69074billion. The shares of American Greetings Corporation (NYSE:AM) traded recently at $22.45 per share, and over $28 per share in 2007. AM shares were down to $3.24 within its 52weekLow.
Those who currently hold American Greetings Corporation (NYSE:AM) shares, have certain options and should contact the Shareholders Foundation.
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