NEW YORK, Sept. 24, 2013 /PRNewswire/ -- Pomerantz
Grossman Hufford Dahlstrom & Gross LLP is investigating claims
on behalf of investors of Official Payments Holdings, Inc.
("Official Payments" or the "Company") (NASDAQ: OPAY) (ISIN:
US67623R1068) (CUSIP: 67623R1068) concerning the proposed
acquisition of Official Payments by ACI Worldwide.
The investigation concerns whether the Official Payments
directors are breaching their fiduciary duties by failing to
adequately shop the Company and maximize shareholder value.
Under the terms of the agreement, Official Payments shareholders
will receive $8.35 per share in cash
for each share of Official Payments common stock. However,
the Price to Total Assets and Book Value multiples are below the
average of comparable transactions. Moreover, at least one
Analyst has set a target price of $10.00 per share for Official Payments, and the
Company's stock closed above the offered price on September 19, 2013.
Official Payments shareholders seeking more information about
this acquisition are advised to contact Robert Willoughby at rswilloughby@pomlaw.com or
212-661-1100 or 888-476-6529, ext. 237.
The firm is also investigating actions on behalf of shareholders
for the following companies: Eastern Insurance Holdings,
Inc.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and San
Diego, is acknowledged as one of the premier firms in the
areas of corporate, securities, and antitrust class litigation.
Founded by the late Abraham L.
Pomerantz, known as the dean of the class action bar, the
Pomerantz Firm pioneered the field of securities class actions.
Today, more than 75 years later, the Pomerantz Firm continues in
the tradition he established, fighting for the rights of the
victims of securities fraud, breaches of fiduciary duty, and
corporate misconduct. The Firm has recovered numerous
multimillion-dollar damages awards on behalf of defrauded
investors. See www.pomerantzlaw.com.
CONTACT:
Robert
Willoughby
Pomerantz Grossman Hufford Dahlstrom
& Gross LLP
212-661-1100 ext. 237
rswilloughby@pomlaw.com
SOURCE Pomerantz Grossman Hufford
Dahlstrom & Gross LLP