A lawsuit was filed for certain investors in shares of VeriFone Systems Inc (NYSE:PAY) shares over alleged securities laws violations. Deadline: May 6, 2013. NYSE:PAY investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com

San Diego, CA -- (SBWire) -- 03/11/2013 --An investor in shares of VeriFone Systems Inc (NYSE:PAY) filed a lawsuit in the U.S. District Court for the Northern District of California over alleged violations of Federal Securities Laws by VeriFone Systems Inc in connection with certain allegedly false and misleading statements.

Investors who purchased shares of VeriFone Systems Inc (NYSE:PAY), have certain options and for certain NYSE:PAY investors are short and strict deadline running. Deadline: May 6, 2013. NYSE:PAY investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on behalf of a class consisting of all persons or entities who purchased or otherwise acquired securities of VeriFone Systems Inc (NYSE:PAY) between December 14, 2011 and February 19, 2013, that VeriFone Systems Inc, formerly VeriFone Holdings, Inc, and certain of its officers and directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by issuing between December 14, 2011 and February 19, 2013 as series of materially false and misleading statements regarding the Company's revenues and operations.

VeriFone Systems Inc reported that its Total Revenue rose from $844.71 million for the 12 months period that ended on Oct. 31, 2009 to over $1.3 billion for the 12 months period that ended on Oct. 31, 2011 and that its Net Loss of $157.46 million for the 12 months period that ended on Oct. 31, 2009 turned into a Net Income of $282.40 million for the 12 months period that ended on Oct. 31, 2011.

Shares of VeriFone Systems Inc (NYSE:PAY) grew from as low as $4.02 per share in March 2009 to as high as $54.40 per share in April 2012.

On February 4, 2013, VeriFone Systems Inc announced the retirement of its Chief Financial Officer, as well as its Vice Chairman, Ellmore Waller. Robert Dykes was named as the Company's new CFO.

VeriFone stock declined $0.87 per share.

Then on February 20, 2013, VeriFone Systems Inc announced certain preliminary financial results for its first fiscal quarter of 2013.

NYSE:PAY shares declined from $32.13 per share on Feb. 20, 2013, to $18.01 per share on February 21, 2013.

On March 8, 2013, NYSE:PAY shares closed at $20.61 per share, which is less than half its current 52 week High of $55.89 per share.

Those who purchased shares of VeriFone Systems Inc (NYSE:PAY) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com