The New York City-headquartered company said the complaint involves adjournment of this year's annual shareholder meeting, compensation policies, and arrangements with Delphin Shipping -- a limited liability company partly affiliated with Eagle Bulk Chief Executive Sophocles Zoullas.
"Eagle Bulk has been made aware of a purported shareholder derivative action attempting to set forth claims on behalf of the company against certain of its present and former officers and directors," the company said in a regulatory filing.
Eagle Bulk in August 2009 agreed with Delphin to provide it with commercial and technical supervisory management services to vessels to be bought by Delphin for a fixed monthly fee based on a sliding scale.
Pursuant to the agreement, Eagle Bulk provided services to Delphin vessels for a monthly fee of $15,834 for the first 10 vessels, $11,667 for the second 10 vessels, and $8,750 for the third 10 vessels.
Eagle Bulk said in the June 14 filing it is reviewing the allegations but "believes them to be without merit and intends to defend the action vigorously."
The complaint has been filed in the United States District Court for the Southern District of New York. (Reuters)
