BENSALEM, Pa. -- (Business Wire)

Law Offices of Howard G. Smith announces that it is investigating potential claims against Pico Holdings Inc. (“PICO” or the “Company”)(NasdaqGS:PICO) and its Board of Directors related to the Company’s compensation package for its CEO and other executives.

The investigation concerns whether the Board of Directors breached their fiduciary duties by awarding themselves excessive compensation despite approximately 60 percent of the Company’s shareholders voting “no” on PICO’s “say on pay provision” at the Company’s annual meeting. PICO’s CEO compensation rose almost eight times between 2008 and 2010, from $1.82 million in 2009 to $14.278 million in 2010, including a $12.276 million stock award. The Company’s share price has similarly plummeted from a high of $47.64 in 2008 to currently approximately $28.50 per share.

If you are a shareholder of PICO, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.

Contacts:

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
(215) 638-4847
(888) 638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com

Source: Law Offices of Howard G. Smith