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If you are a current long-term investor in shares of VeriFone Systems Inc (NYSE:PAY) 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
Dec. 4, 2012 (Shareholders Foundation) -- An investigation on behalf of current long-term investors in shares of VeriFone Systems Inc (NYSE:PAY) concerning whether certain directors and officers of VeriFone Systems Inc breached of fiduciary duties in connection with certain statements.
The investigation by a law firm concerns whether certain VeriFone Systems officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
VeriFone Systems Inc (NYSE:PAY) reported that its Total Revenue rose from $844.71 million for the 12 months period that ended on Oct. 31, 2009 to over $1.3 billion for the 12 months period that ended on Oct. 31, 2011 and that its Net Loss of $157.46 million for the 12 months period that ended on Oct. 31, 2009 turned into a Net Income of $282.40 million for the 12 months period that ended on Oct. 31, 2011.
Shares of VeriFone Systems Inc (NYSE:PAY) grew from as low as $4.02 per share in March 2009 to as high as $54.40 per share in April 2012.
Since April 2012 NYSE:PAY shares declined to as low as $27.86 per share in early October 2012.
On December 4, 2012, NYSE:PAY shares closed at $30.25 per share.
