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If you purchased shares of NetSpend Holdings Inc (NASDAQ:NTSP) prior to Feb. 19, 2013, and currently hold any of those NASDAQ:NTSP shares, you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
Feb. 19, 2013 (Shareholders Foundation) -- An investigation on behalf of investors in NetSpend Holdings Inc (NASDAQ:NTSP) shares was announced concerning whether the offer by TSYS to acquire NetSpend Holdings Inc for $16.00 per NASDAQ:NTSP share and the takeover process are unfair to investors in NetSpend Holdings shares.
The investigation by a law firm concerns whether certain officers and directors of NetSpend Holdings Inc (NASDAQ:NTSP breached their fiduciary duties owed NASDAQ:NTSP investors in connection with the proposed acquisition.
On February 19, 2013, TSYS (NYSE: TSS), and NetSpend Holdings Inc (NASDAQ: NTSP) announced that they have entered into an agreement pursuant to which TSYS will acquire NetSpend Holdings Inc in an all cash transaction valued at approximately $1.4 billion. Under terms of the agreement, NetSpend Holdings shareholders will receive $16.00 in cash for each share of NetSpend Holdings Inc (NASDAQ:NTSP) common stock.
However, the investigation a law firm concerns whether the proposed transaction is unfair to NASDAQ:NTSP stockholders.
Specifically, the investigation focuses on whether the NetSpend Holdings board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
NetSpend Holdings Inc (NASDAQ:NTSP) reported that its annual Total Revenue rose from $225 million in 2009 to $351.33 million in 2012.
