Kirby McInerney LLP is investigating potential claims against the Board of Directors of Netspend Holdings, Inc. (“Netspend” or the “Company”) (NASDAQ: NTSP) related to the proposed acquisition of the Company by Total System Services, Inc. (“TSYS”) (NYSE: TSS). Under the terms of the agreement, TSYS will acquire all of the outstanding common stock of Netspend for $16.00 per share in cash, for a total transaction value of approximately $1.4 billion.
The investigation concerns whether the Netspend Board of Directors violated its fiduciary duties by agreeing to this transaction and whether the proposed $16.00 per share consideration adequately values Netspend common shares. The offer price represents an approximate 30% premium to the price of shares on February 18, 2013, the day before the deal was announced.
If you are a Netspend shareholder and wish to obtain additional information, please contact J. Brandon Walker, Esq. by email at firstname.lastname@example.org, by telephone at (212) 699-1145 or (888) 529-4787, or by filling out this contact form.
Kirby McInerney LLP is a New York-based law firm concentrating in securities, shareholder, whistleblower, antitrust and consumer litigation. For additional information, please go to www.kmllp.com.