NYSE:PHM Long Term Investor Alert: Investigation of PulteGroup, Inc.
The Shareholders Foundation announces that an investigation on behalf of current long-term stockholders of shares of PulteGroup, Inc. (NYSE:PHM) was launched concerning whether certain PulteGroup officers and directors possibly breached their fiduciary duties in connection with their conduct in seeking shareholders’ approval of an amendment to the Company’s Equity Incentive Plan.
Bloomfield Hills, MI based PulteGroup, Inc. is a homebuilder in the United States.
Investors who are current long-term stockholder of shares of S PulteGroup, Inc. (NYSE:PHM), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain PulteGroup’s officers and directors potential breaches of fiduciary duties in connection with their conduct in connection with their conduct in seeking shareholders’ approval for a Senior Management Incentive Plan and Stock Incentive Plan.
In the Proxy Statement filed by PulteGroup, Inc. with the Securities and Exchange Commission the Board of Directors recommends that PulteGroup’s shareholders vote to approve the 2013 Senior Management Incentive Plan and the 2013 Stock Incentive Plan. The 2013 Stock Incentive Plan would make 20,000,000 shares available for awards.
According to the investigation the issuance of the additional shares could have a substantial dilutive effect on the shares of NYSE:PHM common stock.
PulteGroup, Inc. reported that its annual Total Revenue rose from over $4.16 billion in 2011 to $4.82 billion in 2012 and its Net Loss of $210.39 million in 2011 turned into a Net Income of $206.15 million in 2012.
Shares of PulteGroup, Inc. grew from $3.95 per share in September 2011 to as high as $21.67 per share in January 2013.
On April 12, 2013, NYSE:PHM shares closed at $19.22 per share.
Those who purchased shares of PulteGroup, Inc. (NYSE:PHM), have certain options and should contact the Shareholders Foundation.
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