MDC NYSE under Investigation
Breaking News July 18, 2011
The Law Firm of Levi & Korsinsky,
LLP Launches an Investigation Into Possible Breaches
of Fiduciary Duty by the Board of M.D.C. Holdings, Inc. in Connection With the
Company's Executive Compensation
NEW YORK,
July 6, 2011 (GLOBE NEWSWIRE) -- Levi & Korsinsky,
LLP is investigating M.D.C. Holdings, Inc. ("MDC" or the
"Company"), and its Board of Directors, in connection with the
Company's 2008, 2009, and 2010 compensation for its CEO and other executives.
If you owned shares during this time period, you may be affected.
To get more
information, click here: http://zlk.9nl.com/mdc-holdings/.
At the
Company's recent annual shareholder meeting held April 27, 2011, shareholders
voted "no" on MDC's say on pay provision.
The
investigation concerns whether certain senior officers and executives of MDC's
were awarded salaries, bonuses, and/or other forms of compensation that were
excessive or unwarranted based on the MDC's performance.
Specifically,
MDC's CEO total compensation rose from $6.5 million in 2008 to $9.2 million in
2010 and its COO pay increased from about $7.3 million in 2008 to $9 million in
2010. Executive pay was increased despite the fact that MDC's annual
revenue fell from $2.885 billion in 2007 to $958.65 million in 2010.
To speak
directly to an attorney please contact Eduard Korsinsky,
Esq.
either via email at ek@zlk.com or by telephone at (212) 363-7500,
toll-free: (877) 363-5972, or visit http://www.zlk.com/mdc-holdings-mdc.html.
Levi & Korsinsky has expertise in protecting shareholders' rights
and prosecuting investor securities litigation.
The
attorneys at Levi & Korsinsky have extensive
experience in litigating actions on behalf of shareholders victimized by
financial fraud and represent investors throughout the nation. Levi & Korsinsky has been appointed by numerous courts throughout
the country to serve as lead counsel on behalf of shareholders in major
securities fraud cases. For more information, please feel free to contact
any of the attorneys listed below.
Attorney
advertising.
Please be
aware that prior results never guarantee similar future outcomes.
CONTACT: Levi & Korsinsky, LLP Eduard Korsinsky, Esq. 30 Broad Street - 15th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com
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