An investigation for current investors in shares of Cynosure, Inc. (NASDAQ:CYNO) was initiated concerning whether certain officers and directors of Cynosure, Inc. (NASDAQ:CYNO breached their fiduciary duties by paying executives excessive compensation.
Investors who purchased Cynosure, Inc. (NASDAQ:CYNO) and currently hold those Cynosure, Inc. (NASDAQ:CYNO shares 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 focuses on whether the directors and officers of Cynosure, Inc. harmed the company by agreeing to pay certain of Cynosure’ senior officers and executives excessive compensation in past years.
Cynosure, Inc. reported that its Total Revenue rose from $72.83million in 2009 to $111.60million in 2011 and that its Net Loss decreased from $22.76million in 2009 to $2.90million in 2010. However, Cynosure, Inc. Total Revenue in 2008 was $127.10million with a Net Income of $10.20million.
Shares of Cynosure, Inc. (NASDAQ:CYNO) rose from as low as $4.93 per share in 2009 to almost $18 in March 2012. However NASDAQ:CYNO shares traded in 2008 as high as $25.42 per share and in 2007 as high as $43.50 per share,
The compensation of certain top officers at Cynosure, Inc. increased significantly over the past years. The total compensation of the President and CEO of Cynosure, Inc. rose from over $900,000 in 2009 to $1.85million in 2011 and the CFO’s pay increased from over $580,000 in 2009 to $1.1million in 2011.
However the compensation of certain officers in 2011 is higher than 2008 even though the company’s financial performance in 2008 was significantly higher than in 2011. In fact, the CEO’s compensation in 2008 was at $1.54million and in 2011 at $1.85million and the CFO’s pay was in 2008 at more than $750,000 and in 2011 at $1.1million.
NASDAQ:CYNO traded in early April at slightly below $17 per share, less than half the value in 2007.
Shares of Cynosure, Inc. (NASDAQ:CYNO) closed on April 6, 2012 at $17.61 per share.
Those who purchased Cynosure, Inc. (NASDAQ:CYNO) and currently hold those NASDAQ:CYNO shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego