NEW YORK, Oct. 18, 2013 /PRNewswire/ -- Juan E.
Monteverde, a partner at Faruqi & Faruqi, LLP, a leading
national securities firm headquartered in New York City, is investigating the Board of
Directors of Official Payments Holdings, Inc. ("Official Payments"
or the "Company") (NasdaqGM: OPAY) for potential breaches of
fiduciary duties in connection with their conduct related to the
sale of the Company to ACI Worldwide, Inc. (NasdaqGS: ACIW) in a
cash deal valued at approximately $109
million. Under the terms of the proposed transaction,
Official Payments stockholders will receive $8.35 in cash for each share of Official Payments
common stock they own. At least one analyst on Yahoo! Finance
has assigned a target price of $10.00
for the Company. Moreover, Official Payments' closing price was
$8.50 on September 20, 2013.
Request more information now by clicking here:
www.faruqilaw.com/OPAY. There is no cost or obligation to
you.
The investigation focuses on whether Official Payments' Board of
Directors breached their fiduciary duties to the Company's
stockholders by failing to conduct an adequate and fair sales
process prior to agreeing to this proposed transaction, whether and
by how much this proposed transaction undervalues the Company to
the detriment of Official Payments' shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents
investors and individuals in class action litigation. The
firm is focused on providing exemplary legal services in complex
litigation in the areas of securities, shareholder, antitrust and
consumer litigation, throughout all phases of litigation. The
firm has an experienced trial team which has achieved significant
victories on behalf of the firm's clients.
If you own common stock in Official Payments and wish to obtain
additional information and protect your investments free of charge,
please visit us at www.faruqilaw.com/OPAY or contact Juan E. Monteverde, Esq. either via e-mail at
jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or
(212) 983-9330.
Contact:
Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan E. Monteverde, Esq.
jmonteverde@faruqilaw.com
Toll Free: (877) 247-4292
Phone: (212) 983-9330
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