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.