INVESTOR ALERT: Faruqi & Faruqi, LLP Announces the Investigation of Official Payments Holdings, Inc. (OPAY) Over the Proposed Sale of the Company to ACI Worldwide, Inc. (ACIW)
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Official Payments Holdings, Inc.
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Official Payments Holdings, Inc. (“Official Payments” or the “Company”) (NasdaqGM: OPAY) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to ACI Worldwide, Inc. (NasdaqGS: ACIW) in a cash deal valued at approximately $139.7 million. Under the terms of the proposed transaction, Official Payments stockholders will receive $8.35 for each share of Official Payments common stock they own.
The investigation focuses on whether Official Payments’ Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Official Payments’ shareholders.
If you own common stock in Official Payments and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.