Law Firm Brower Piven Announces Investigation Of NetSpend Holdings, Inc. Proposed Buyout
The securities litigation firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of NetSpend Holdings, Inc. (“NetSpend” or the “Company”) (Nasdaq: “NTSP”) and other violations of state law by the board of directors of NetSpend relating to the proposed acquisition of the Company by Total System Services, Inc. (“TSS”). The firm’s investigation seeks to determine, among other things, whether the board of directors of NetSpend breached their fiduciary duties by failing to maximize shareholder value.
According to the press release announcing the proposed buyout, TSS will acquire NetSpend in an all cash transaction valued at approximately $1.4 billion. Under terms of the agreement, NetSpend shareholders will receive $16.00 in cash for each share of NetSpend common stock they own. According to Bloomberg, the proposed buyout is also virtually assured of approval because private equity firm JLL Partners Inc., a 38% shareholder of NetSpend, has agreed to a “voting pact” with TSS to vote their shares in favor of the deal.
If you currently own common stock of NetSpend and would like to learn
more about the investigation being conducted by Brower Piven, you may
email or call Brower Piven, who will, without obligation or cost to you,
attempt to answer your questions. You may contact Brower Piven by email
by calling (410) 415-6616, or at Brower Piven, A Professional
Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys
at Brower Piven have combined experience litigating securities and other
class action cases of over 60 years.
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