Stanley Black and Decker, Inc.
Robbins Umeda LLP Announces an Investigation of Stanley Black & Decker, Inc. for Shareholders
Robbins Umeda LLP, a shareholder rights litigation firm, has commenced an investigation into possible breaches of fiduciary duty and other violations of the law by certain officers and directors at Stanley Black & Decker, Inc. (NYSE: SWK). Black & Decker manufactures tools and engineered security solutions worldwide. The company was formerly known as The Stanley Works and changed its name to Stanley Black & Decker in March 2010. The original company was founded in 1843 and is headquartered in New Britain, Connecticut.
Robbins Umeda LLP’s investigation focuses on whether the directors and officers of Stanley Black & Decker harmed the company by breaching their fiduciary duties to shareholders. In particular, Robbins Umeda is investigating the board’s decision to increase the company’s Chief Executive Officer’s pay by over $240% to $32.7 million, including a one-time grant of 325,000 shares of stock valued at $18.7 million, even though profit at the company fell for the third consecutive year. Notably, the company’s shareholders recently expressed their disdain for this and other executive pay packages by voting no on Stanley Black and Decker’s say on pay provision.
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