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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of VeriFone Systems, Inc. (NYSE: PAY) to a consortium led by Francisco Partners. Under the terms of the transaction, VeriFone shareholders will receive $23.04 per share in cash.
The investigation concerns whether the Board of VeriFone breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether the consortium is underpaying for VeriFone shares, thus unlawfully harming VeriFone shareholders.
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