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The Law Offices of Todd M. Garber announces that investors of VeriFone Systems, Inc. (“VeriFone” or the “Company”) (NYSE:PAY) have until May 6, 2013 to move the Court to serve as lead plaintiff in the securities fraud class action lawsuit filed in the United States District Court for the Northern District of California. The lawsuit was filed on behalf of a class (the “Class”) comprising all purchasers of VeriFone common stock between December 14, 2011 and February 19, 2013, inclusive (the “Class Period”). The Complaint alleges that VeriFone issued materially false and misleading statements throughout the Class Period concerning the Company’s operations and financial performance.
VeriFone designs, markets and services electronic payment solutions worldwide. The Complaint alleges that: (a) the Company failed to execute its plan to move to a more subscriptions-based service model; (b) past acquisitions masked what was happening at the Company; (c) VeriFone’s accounting recognition was overly aggressive; (d) VeriFone lacked adequate internal and financial controls; and (e) as a result, the Company’s financial statements were materially false and misleading at all relevant times.
If you are a member of the above-described Class, you may move the Court no later than May 6, 2013 to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take any action at this time. You may retain counsel of your choice or take no action and remain an absent Class member. If you wish to discuss this action or have any questions concerning this Notice 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 email@example.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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Friday, December 6, 2013
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