LOS ANGELES -- (Business Wire)

Glancy Binkow & Goldberg LLP 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 between 2008 and 2010 almost eight times 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 Louis Boyarsky, Esquire, Glancy Binkow & Goldberg LLP, 1801 Avenue of the Stars, Suite 311, Los Angeles, CA 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by email to shareholders@glancylaw.com.

Contacts:

Glancy Binkow & Goldberg LLP
Louis Boyarsky, Esquire
310-201-9150 or Toll Free at 888-773-9224
shareholders@glancylaw.com

Source: Glancy Binkow & Goldberg LLP