NYSE:PAY Investor Alert: Deadline in Lawsuit against VeriFone Systems Inc on May 6
The Shareholders Foundation announces that a deadline is coming up on May 6, 2013 in the lawsuit filed for investors who purchased shares of VeriFone Systems Inc (NYSE:PAY) over alleged securities laws violations by VeriFone Systems Inc, formerly VeriFone Holdings, Inc, (“the company”) in connection with certain allegedly false and misleading statements.
Investors with a substantial investment in VeriFone Systems Inc (NYSE:PAY) shares between December 14, 2011 and February 19, 2013, should get active before the Deadline that is coming up on May 6, 2013, and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
According to the complaint filed in the U.S. District Court for the Northern District of California the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired securities of VeriFone Systems Inc (NYSE:PAY) between December 14, 2011 and February 19, 2013, that the company and certain of its officers and directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by issuing between December 14, 2011 and February 19, 2013 as series of materially false and misleading statements regarding the Company’s revenues and operations.
On February 4, 2013, the company announced the retirement of its Chief Financial Officer, as well as its Vice Chairman, Ellmore Waller. Robert Dykes was named as the Company’s new CFO.
NYSE:PAY stock declined $0.87 per share.
Then on February 20, 2013, the company announced certain preliminary financial results for its first fiscal quarter of 2013.
NYSE:PAY shares declined from $32.13 per share on Feb. 20, 2013, to $18.24 per share on February 21, 2013.
On May 3, 2013, NYSE:PAY shares closed at $22.05 per share, which is less than half its current 52 week High of $48.15 per share.
Those who purchased shares of VNYSE:PAY have certain options should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego