An investigation on behalf of investors of Hypercom Corporation (NYSE:HYC) over possible breaches of fidcuary duties in connection with the proposal by VeriFone Systems to take over Hypercom Corporation was announced.

Hypercom Corporation, located in Phoenix, Arizona, is a global provider of electronic payment and transaction solutions and value-added services at the point of transaction. The investigation by a law firm concerns possible breaches of fiduciary duties in connection with the offer by VeriFone Systems to take over Hypercom Corporation. On Wednesday, September 29, 2010, after the market closed VeriFone Systems, Inc. (NYSE: PAY) announced that they have submitted a letter to Hypercom Corp.'s (NYSE: HYC) Board of directors, detailing a proposal to acquire all of the outstanding shares of Hypercom for $5.25 per share in cash. VeriFone Systems said they approached Hypercom Corp before and were disappointed by the Directors of Hypercom Corporation failure to engage in a meaningful discussion in their September 24 proposal in which VeriFone Systems, Inc. proposed to acquire all of the outstanding shares of Hypercom Corporation at a 0.21x exchange ratio. While the old share exchange offer represented a premium of 52% over the closing price of Hypercom Corporation shares on September 23 and 69% over the average share price for the thirty trading days prior to VeriFone Systems proposal, the new $5.25 per share cash offer would deliver to Hypercom Corporation shareholders a cash premium of 37% over Hypercom Corporation closing share price on September 23, 2010 and 52% over your 30-day trailing average closing price as of that date.

Shares of Hypercom Corporation (NYSE: HYC) traded on Wednesday as high as $4.35 per share, before increasing to $6.15 per share or well above the current offer in after hours trading. HYC shares current 52weekHigh is at $5.19 per share, which isnt much higher than HYC was trading during 2008. But 2007 HYC shares traded at over $6 per share and in 2006 though HYC shares traded as high as almost $11 per share. In addition Hypercoms 12 month revenue went from $248.56million in 2006 to $406.90million in 2009.