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Law Office of Brodsky & Smith, LLC Announces Investigation of Hypercom Corporation
BALA CYNWYD, Pa.--([ BUSINESS WIRE ])--Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors Hypercom Corporation (aHypercoma or the aCompanya) (NYSE:HYC) relating to the proposed acquisition by VeriFone Systems, Inc (aVeriFonea).
Under the terms of the transaction, Hypercom shareholders would receive a fixed ratio of 0.23 shares of VeriFone common stock for each share of Hypercom stock they own. The transaction values Hypercom shares at approximately $7.32 a share. The investigation concerns possible breaches of fiduciary duty and other violations of state law. The transaction appears to be unfair, in part, given that an analyst set a price target for Hypercom at $9.00 per share. Thus, shareholders need additional information to know if the Board of Directors breached their fiduciary duties by failing to adequately shop the Company, which has resulted in VeriFone underpaying for the company.
If you own shares of Hypercom and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at [ investorrelations@brodsky-smith.com ], visiting [ http://brodsky-smith.com/244-hyc-hypercom-corporation.html ], or by calling toll free 877-LEGAL-90.