NEW YORK, June 2, 2017 /PRNewswire/ -- The proposed
acquisition of CardConnect Corp. ("CCN" or the "Company") (NASDAQ:
CCN) by First Data Corporation ("FDC") is the subject of
an examination by WeissLaw LLP, a national class action,
shareholders rights law firm. On May
29, 2017, CCN and FDC jointly announced the acquisition of
the Company by FDC. Under the terms of the agreement, the
Company's shareholders will receive $15.00 in cash for each CCN share they own.
WeissLaw is investigating whether CCN's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, at least one analyst set a target price of $20.00, or $5.00
above the offer price. Additionally, the Company recently
announced positive financial results. It reported revenue
increased 20.5% to $156.7 million in
the first quarter of 2017 as compared to $130 million in the previous year. CCN also
announced a 22.8% increase in bankcard volume from $4.9 billion to $6.0
billion.
Given these facts, WeissLaw is investigating whether CCN's Board
acted in the best interests of CCN's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own CCN shares and would like more
information about your rights or our investigation, or if you have
information to share with us, please contact Joshua Rubin by telephone at
(888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/cardconnect-corp/
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SOURCE WeissLaw LLP