Law Offices of Todd M. Garber Announces Investigation of Official Payments
LOS ANGELES -- September 30, 2013
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 firstname.lastname@example.org.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Law Offices of Todd M. Garber
Todd M. Garber, Attorney at Law
Los Angeles, California
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