PR Newswire
SAN DIEGO, April 10, 2018
SAN DIEGO, April 10, 2018 /PRNewswire/ -- Shareholder rights
law firm Johnson Fistel, LLP has launched an investigation into whether the board members of VeriFone Systems, Inc. (NYSE: PAY)
("VeriFone") breached their fiduciary duties in connection with the proposed sale of the Company to Francisco Partners. VeriFone
provides payments and commerce solutions at the point of sale (POS) worldwide.
On April 9, 2018, VeriFone announced that it had signed a definitive merger agreement with
Francisco Partners. Under the terms of the agreement, VeriFone shareholders will receive $23.04 per
share in cash.
The investigation concerns whether the VeriFone board failed to satisfy its duties to the Company shareholders, including
whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for
VeriFone shares of common stock. Nationally recognized Johnson Fistel is investigating whether the
proposed deal represents adequate consideration, especially given one Wall Street analyst has a $26.00 price target on the stock.
If you are a shareholder of VeriFone and believe the proposed buyout price is too low or you're interested in
learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim
Baker ( jimb@johnsonfistel.com ) at 619-814-4471. If
emailing, please include a phone number.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in
California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities
class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com . Attorney advertising. Past results
do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP