N🟁N

Hypercom Corporation Shareholder Investigation by Briscoe Law Firm Concerning the Acquisition by VeriFone Systems, Inc.

  //house-home.news-articles.net/content/2010/11/1 .. ing-the-acquisition-by-verifone-systems-inc.html
  Published in House and Home on Wednesday, November 17th 2010 at 10:25 GMT by Market Wire
          ^{🞛 This publication is a summary or evaluation of another publication}

DALLAS--([ BUSINESS WIRE ])--[ The Briscoe Law Firm, PLLC ], founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the law firm of Powers Taylor, LLP are investigating potential legal claims against the Board of Directors of [ Hypercom Corporation ] (aHypercoma or aHYCa) (NYSE: HYC) related to the proposed acquisition of Hypercom by VeriFone Systems, Inc. The investigation relates to possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Hypercom for approving this transaction, whether the transaction is fair to Hypercom shareholders, and whether Hypercoma™s Board of Directors acted in the shareholdersa™ best interests.

The definitive acquisition agreement, which was announced on November 17, 2010, involves an all-stock transaction valued at approximately $485 million. Under the terms of the proposed acquisition, Hypercom shareholders will receive a fixed ratio of .23 shares of VeriFone common stock for each share of Hypercom/HYC common stock they hold. Based on the closing price of VeriFone stock the day before the merger announcement, the transaction values Hypercom shares at approximately $7.32 per share, representing an approximate 19% premium to the shareholders. However, at least one analyst has set the target price of Hypercom/HYC stock at $9.00 per share. In addition, Hypercom previously rejected an offer in late September 2010 made by VeriFone, in which VeriFone offered to acquire all of the outstanding shares of Hypercom for .21 shares of VeriFone stock followed by an all cash offer. Based on this and other factors, the firms believe that the proposed transaction may be undervaluing Hypercom/HYC shares and be unfair to the companya™s shareholders.

If you currently own shares of Hypercom/HYC and would like additional information regarding this investigation, or if you have information regarding the allegations involving this transaction, please contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at [ patrick@powerstaylor.com ], or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at [ WBriscoe@TheBriscoeLawFirm.com ]. There is no cost or fee to you.

The Briscoe Law Firm is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.