Levi & Korsinsky is investigating the Board of Directors of Hypercom Systems, Inc. for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to VeriFone Systems, Inc.
New York, NY, November 18, 2010 — Levi & Korsinsky is investigating the Board of Directors of Hypercom Systems, Inc. (“Hypercom” or the “Company”) (NYSE: HYC) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to VeriFone Systems, Inc. (“VeriFone”) (NYSE: PAY). Under the terms of the all-stock transaction, Hypercom shareholders will receive a fixed ratio of 0.23 shares of VeriFone common stock for each share they own for a total transaction value of approximately $485 million. The transaction values Hypercom shares at approximately $7.32 per share based on the closing price on November 16, 2010.
Click here to learn how to join the action: http://www.zlk.com/hypercom-hyc.html, or call: 877-363-5972.
The investigation concerns whether the Hypercom Board of Directors breached their fiduciary duties to Hypercom stockholders by failing to adequately shop the Company before entering into this transaction and whether VeriFone is underpaying for Hypercom shares, thus unlawfully harming Hypercom stockholders. In particular, at least one analyst set a price target for Hypercom stock at $9.00 per share.
If you own common stock in Hypercom and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com/hypercom-hyc.html.
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below.
Contact: Levi & Korsinsky, LLP, Joseph Levi, Esq., Eduard Korsinsky, Esq., 30 Broad Street – 15th, Floor, New York, NY 10004, Tel: (212) 363-7500, Toll Free: (877) 363-5972, Fax: (212) 363-7171, www.zlk.com
Press Release Distribution By PressReleasePoint
Contact:
Jared Morine
Levi & Korsinsky, LLP
New York, NY 10004
212-363-7500
[email protected]
