Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of LML Payment Systems, Inc. (“LML” or the “Company”) (NASDAQ CM: LMLP) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Digital River, Inc. (“Digital River”) (NASDAQ GS: DRIV) in a transaction valued at approximately $102.8 million. Click here to learn more: http://www.rigrodskylong.com/investigations/lml-payment-systems-inc-lmlp. Under the terms of the proposal, public shareholders of LML will receive $3.45 per share in cash for each share of LML they own. The investigation concerns whether LML’s board of directors failed to adequately shop the Company and obtain the best possible value for LML’s shareholders before entering into an agreement with Digital River. If you own the common stock of LML and purchased your shares before September 24, 2012, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Peter Allocco at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530 toll free at (888) 969-4242, by e-mail to firstname.lastname@example.org, or at: http://www.rigrodskylong.com/investigations/lml-payment-systems-inc-lmlp. Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States. Attorney advertising. Prior results do not guarantee a similar outcome.
Shares of LML Payment Systems (Nasdaq:LMLP) have taken a tremendous swing upward. The stock is trading at $2.60 as of 9:42 a.m. ET, 20.9% above Monday's closing price of $2.15. Volume is at 48,693, 0.2 times the daily average of 309,100.