A lawsuit was filed for shareholders in NYSE:HPY shares in connection with the proposed takeover was announced and NYSE:HPY stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWire) -- 02/01/2016 --A shareholder in Heartland Payment Systems, Inc. filed a lawsuit against the acquisition of Heartland Payment Systems, Inc. by Global Payments Inc for $100.00 per share.

Investors who purchased shares of Heartland Payment Systems, Inc. (NYSE:HPY) and currently hold any of those NYSE:HPY shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:HPY stockholders by agreeing to sell Heartland Payment Systems, Inc too cheaply via an unfair process to Global Payments Inc.

On December 15, 2015, Global Payments Inc. (NYSE: GPN) announced that it has entered into an agreement to acquire Heartland Payment Systems, Inc. (NYSE:HPY). Under the terms of the agreement Global Payments will acquire Heartland Payment Systems, Inc. (NYSE:HPY) in a cash-and-stock transaction for $100.00 per share, representing a transaction value of approximately $4.3 billion. Consideration for the transaction will consist of 0.6687 shares of Global Payments stock and $53.28 for each share of Heartland Payment Systems, Inc. (NYSE:HPY) stock at closing, subject to the terms of the merger agreement.

However, the plaintiff claims that the proposed consideration NYSE:HPY shareholders will receive is grossly inadequate and undervalues Heartland Payment Systems, Inc. Indeed, Heartland Payment Systems, Inc. reported that its annual Total Revenue rose from over $1.98 billion in 2011 to over $2.31 billion in 2014. In addition, the plaintiff alleges that the process is also unfair to NYSE:HPY stockholders. The plaintiff claims that the defendants agreed to unreasonable deal protection devices such as no-solicitation and a $153 termination fee provision, that deter other bidders from making a superior offer.

Shares of Heartland Payment Systems, Inc. (NYSE:HPY) closed on January 28, 2016, at $89.39 per share.

Those who are current investors in Heartland Payment Systems, Inc. (NYSE:HPY) shares have certain options and should contact the Shareholders Foundation.

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