A lawsuit was filed for investors in shares of NetSpend Holdings Inc (NASDAQ:NTSP) in effort to block the proposed takeover and NASDAQ:NTSP stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/26/2013 -- An investor in shares of NetSpend Holdings Inc (NASDAQ:NTSP) filed a lawsuit in effort to stop the proposed takeover of NetSpend Holdings by TSYS for $16.00 per NASDAQ:NTSP share.
Investors who purchased shares of NetSpend Holdings Inc (NASDAQ:NTSP) prior to Feb. 19, 2013, and currently hold any of those NASDAQ:NTSP shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff claims that the defendants breached their fiduciary duties owed NASDAQ:NTSP stockholders by agreeing to sell the company too cheaply through an unfair process to TSYS.
On February 19, 2013, TSYS and NetSpend Holdings Inc announced that they have entered into an agreement pursuant to which TSYS will acquire NetSpend Holdings Inc in an all cash transaction valued at approximately $1.4 billion. Under terms of the agreement, NetSpend Holdings shareholders will receive $16.00 in cash for each share of NetSpend Holdings Inc (NASDAQ:NTSP) common stock.
Those who are current investors in NetSpend Holdings Inc (NASDAQ:NTSP), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego