LOS ANGELES--(BUSINESS WIRE)--Glancy Binkow & Goldberg LLP announces that it is investigating potential claims on behalf of purchasers of the securities of VeriFone Systems, Inc. (“VeriFone” or the “Company”) (NYSE:PAY) concerning possible violations of federal securities laws. The investigation focuses on allegations that certain statements issued by VeriFone were false and misleading regarding the Company’s operations and financial performance.
VeriFone designs, markets and services electronic payment solutions worldwide. The investigation is related to allegations that the Company (a) failed to execute on its plan to move to a more subscriptions-based service model; (b) that past acquisitions had masked what was happening at the Company; and (c) that the Company’s accounting recognition has been overly aggressive. On February 21, 2013, VeriFone shares fell $13.65 from the previous day’s close of $31.89 per share, to a closing price of $18.24 per share on February 21, 2013, on extremely heavy trading volume.
If you purchased VeriFone shares, 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 Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, by telephone at (310) 201-9150, Toll Free at (888) 773-9224, by e-mail to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com.
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