NEW YORK, Feb. 13, 2012 /PRNewswire/ -- Faruqi & Faruqi, LLP, a national law firm concentrating on investor rights, consumer rights and enforcement of federal antitrust laws, is investigating potential wrongdoing at Penn Virginia Corporation ("PVA" or the "Company") (NYSE: PVA). The investigation focuses on whether certain officers and directors of PVA violated shareholder protection laws by paying executives excessive compensation.

(Logo: http://photos.prnewswire.com/prnh/20120119/MM38856LOGO)

Request more information now by clicking here: www.faruqilaw.com/PVA

Despite the Company's poor performance in 2009, 2010, and the first part of 2011, the compensation of Chief Executive Officer A. James Dearlove was increased more than $1 million, roughly $2.989 million in 2009 to $4.039 million in 2010. In addition, the Company's Chief Financial Officer's pay rose from $1.084 million in 2009 to $1.789 million in 2010. In all, the Company's most highly compensated executive officers were compensated in excess of $10 million in 2010, even though total shareholder return for 2010 was -20.1%. Penn Virginia's 12 months total revenue decreased from $303.50 million in 2007 to $254.44 million in 2010 and its income fell from $50.49 million for 2007 and $121.08 million for 2008 to a loss of $114.64 million in 2009. For the first quarter in 2011 Penn Virginia Corp. reported a loss of $26.34 million compared to an income of $13.59 million a year earlier.

Faruqi & Faruqi, LLP is a national law firm, representing investors, consumers and companies in the prosecution of claims under state corporate and consumer laws and the federal securities and antitrust laws. The firm is focused on providing exemplary legal services in complex litigation. Founded in 1995, the firm maintains its principal office in New York City, with offices in Delaware, California, Florida and Pennsylvania. The lawyers at Faruqi & Faruqi, LLP have demonstrated a clear commitment to championing the rights of shareholders and consumers nationwide.

If you are a current PVA shareholder, and you would like to discuss your legal rights, visit www.faruqilaw.com/PVA. You can also contact us by calling Beth A. Keller toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to bkeller@faruqilaw.com.

(NYSE: PVA)

Attorney Advertising. (C) 2012 Faruqi & Faruqi, LLP. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

Contact:

Faruqi & Faruqi, LLP
Beth A. Keller, Esq.
369 Lexington Avenue, 10th Floor
New York, NY 10017
Telephone: (877) 247-4292 or (212) 983-9330
E-mail: bkeller@faruqilaw.com

SOURCE Faruqi & Faruqi

Back to top

RELATED LINKS
http://www.faruqilaw.com