San Diego, Aug 05, 2011 (Shareholders Foundation) -- An investor in S1 Corporation (NASDAQ:SONE) filed a lawsuit in State Court against directors of S1 Corp. in effort to stop the proposed takeover of S1 Corp by ACI Worldwide, Inc.
According to the complaint the plaintiff alleges that the defendants breached their fiduciary duties owed to S1 Corp. (NASDAQ:SONE) investors arising out of the attempt to sell S1 Corp. too cheaply to ACI Worldwide.

On June 27, 2011, S1 Corporation (Nasdaq:SONE) and Fundtech Ltd. (Nasdaq:FNDT) announced that they have entered into an agreement to combine businesses through a stock-for-stock merger. Under the terms of the proposed transaction, Fundtech shareholders will receive 2.72 shares of S1 common stock for each Fundtech ordinary share they own. Then on July 26, 2011, S1 Corporation (Nasdaq:SONE) announced that it has received a letter dated July 26, 2011 from ACI Worldwide, Inc. (Nasdaq:ACIW) outlining an unsolicited proposal to acquire S1 Corporation for $9.50 per share in a mix of cash and common stock of ACI.

Following the proposal to takeover S1 Corporation shares of S1 Corp. (NASDAQ:SONE) jumped from a close of $7.13 per share on July 25, 2011 to a high of $9.43 on July 26,2011.

However, at least one analyst has set the high target price for S1 Corporation NASDAQ SONE stock at $13.00 per share.

S1 Corp’s financial performance increased lately. Even though S1 Corp’s annual Total Revenue increased only slightly from $204.93million in 2007 to $209.09million in 2010 and its latest annual Revenue fell compared to its Total Revenue of $228.55million in 2008 and 238.93million in 2009, S1 Corporation was able to report an increased first quarter Revenue of $57.84million for the first quarter in 2011, compared to a first quarter Revenue of $51.16million a year earlier. Additionally S1 Corporation was able to pull out of its last year first quarter Net Loss of $1.06milion and report for the first quarter in 2011 a Net Income of $0.68million.