Cathay General Bancorp Investor Investigation Concerning Executive Compensation

Shareholders Foundation, Inc., Mail@ShareholdersFoundation, www.ShareholdersFoundation.com

2009-04-08 17:05:49 - Investigation on behalf of current investors in Cathay General Bancorp (Public, NASDAQ:CATY) over possible breaches of fiduciary duty - Contact the Shareholders Foundation, Inc. at mail@shareholdersfoundation.com

An investigation on behalf of current investors of Cathay General Bancorp (Public, NASDAQ:CATY) over possible shareholder claims concerning breaches of fiduciary duty related to the historical and potential compensation that was awarded certain senior officers was announced.
If you currently hold Cathay General Bancorp (NASDAQ:CATY) you have certain options and you should contact the Shareholders Foundation, Inc immediately.Email: mail(at)shareholdersfoundation.com or call us at: +1 (858) 779 - 1554. According to the investigation by a law firm the investigation focuses on possible claims that certain Cathay General Bancorp’s senior officers were unjustly enriched through their receipt of unwarranted, excessive or unearned compensation from 2005-2007. Cathay General Bancorp is the holding company of Cathay Bank . As a commercial bank, Cathay Bank accepts checking, savings, and time deposits, and makes commercial, real estate, personal, home improvement, automobile, and other installment and term loans. Certain senior officers at Cathay General Bancorp, were awarded salaries, bonuses, stock options and other forms of long-term, ‘incentive’ or retirement compensation that was, so the investigation, excessive or unwarranted based on Cathay General Bancorp’s performance as compared to what senior officers at comparable companies were making and/or results that were fraudulent, misleading or not long-lasting. The investigation by the law firm is also investigating claims that the prior compensation awarded at Cathay General Bancorp is now clearly improper based upon its current operating condition. Finally the investigation focuses also on possible claims that would allow Cathay General Bancorp (Public, NASDAQ:CATY) stockholders to influence or control future compensation decisions at Cathay General Bancorp. Cathay General Bancorp is located in Los Angeles, California, and had $11billion in total assets with a net income of $50million in 2008. The shares of Cathay General Bancorp (NASDAQ:CATY) traded recently at $11.52 per share, down from almost $30 in September 2008.