The securities litigation firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Official Payments Holdings, Inc. (“Official Payments” or the “Company”) (NASDAQ: OPAY) and other violations of state law by the board of directors of Official Payments relating to the proposed buyout of the Company by ACI Worldwide, Inc. The firm’s investigation seeks to determine, among other things, whether the board of directors of Official Payments breached their fiduciary duties by failing to maximize shareholder value.
According to the press release announcing the proposed buyout, Official Payments shareholders will receive $8.35 per share in cash for each share of Official Payments common stock they own. According to Yahoo! Finance, at least one analyst following Official Payments has set a target price of $10.00 per share, and Official Payments’ stock has closed as high as $8.69 only days before the transaction was announced.
If you currently own common stock of Official Payments 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 at
, 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.