Sept. 24, 2013
/PRNewswire/ -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of Official Payments Holdings, Inc. ("Official Payments" or the "Company") (NASDAQ: OPAY) (ISIN: US67623R1068) (CUSIP: 67623R1068) concerning the proposed acquisition of Official Payments by ACI Worldwide.
The investigation concerns whether the Official Payments directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Official Payments shareholders will receive
per share in cash for each share of Official Payments common stock. However, the Price to Total Assets and Book Value multiples are below the average of comparable transactions. Moreover, at least one Analyst has set a target price of
per share for Official Payments, and the Company's stock closed above the offered price on
September 19, 2013
Official Payments shareholders seeking more information about this acquisition are advised to contact
or 212-661-1100 or 888-476-6529, ext. 237.
The firm is also investigating actions on behalf of shareholders for the following companies: Eastern Insurance Holdings, Inc.
The Pomerantz Firm, with offices in
, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late
Abraham L. Pomerantz
, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See
Pomerantz Grossman Hufford Dahlstrom
& Gross LLP 212-661-1100 ext. 237