NEW YORK, Jan. 23, 2013 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of EchoStar Corporation ("EchoStar" or the "Company") (NASDQ: SATS), concerning whether the board has breached its fiduciary duties to shareholders.
The EchoStar Board of Directors approved the grant of more than 1.5 million stock options to EchoStar's executive chairman and controlling stockholder, Charles W. Ergen, contrary to pre-existing limitations on the grant of such stock options to no more than 800,000 per year. The ultra vires grant of such options together with misrepresentations about such grant of options may constitute breaches of the fiduciary obligations of loyalty, good faith and candor.
Current holders of EchoStar shares, purchased at any time, may have a claim against the board for breaches of fiduciary duties, gross mismanagement, waste, and/or abuse of control. If you own EchoStar shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP