Law Offices of Todd M. Garber Announces Investigation of Official Payments Holdings, Inc.
September 30 2013 - 5:52PM
Business Wire
The Law Offices of Todd M. Garber announces that it is
investigating potential claims against the Board of Directors of
Official Payments Holdings, Inc. (“Official Payments” or the
“Company”) (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 Company’s 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 Todd M. Garber, Esquire,
of the Law Offices of Todd M. Garber, by telephone at 213-700-7262
or by email to info@toddgarberlaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
Law Offices of Todd M. GarberTodd M. Garber, Attorney at LawLos
Angeles, California213-700-7262info@toddgarberlaw.com
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