Law Offices of Howard G. Smith Announces Investigation of Official Payments Holdings, Inc.
September 23 2013 - 2:30PM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the Board of Directors of
Official Payments Holdings, Inc. (âOfficial Paymentsâ or the
âCompanyâ) (NASDAQ:OPAY) related to the proposed acquisition of
the Company by ACI Worldwide, Inc. The transaction is valued at
approximately $109 million, or $8.35 per share.
This investigation concerns whether the Board of Directors of
Official Payments breached their fiduciary duties to stockholders
by failing to adequately shop the Company before agreeing to enter
into the proposed transaction, and whether the Company has
disclosed all material information to shareholders about the
transaction. The Company has seen substantial recent growth. Its
share price has skyrocketed from $3.94 on August 7, 2012 to $8.69
on September 19, 2013. Further, at least one analyst has set a
target price for the Companyâs stock at $10 per share.
If you are a shareholder of Official Payments, if you have
information or would like to learn more about our investigation, or
if you wish to discuss these matters or have any questions
concerning this announcement or your rights or interests with
respect to these matters, please contact Howard G. Smith, Esquire,
of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112,
Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll
Free at (888) 638-4847, or by email to
howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.com
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