Girard Gibbs LLP Files Class Action Lawsuit Against VeriFone Holdings, Inc. (NYSE: PAY)

On December 4, 2007, Girard Gibbs filed a nationwide class action lawsuit on behalf of persons who purchased or otherwise acquired securities of VeriFone Holdings, Inc. (NYSE: PAY) between March 1, 2007 and November 30, 2007, inclusive (the “Class Period”). The class action, entitled Eichenholtz v. VeriFone Holdings Inc. et al., 07-cv-6140(MHP), was filed in United States District Court for the Northern District of California. The lawsuit alleges that VeriFone and certain of its present and former officers violated the Securities Exchange Act of 1934.

On December 3, 2007, VeriFone announced that it was restating its financial statements for the first three fiscal quarters of 2007, and that the previous statements could no longer be relied upon. In reaction to this news, VeriFone’s share price fell by 45%--or $22 per share--on nearly 35 times its average trading volume.

If you purchased or otherwise acquired VeriFone securities between March 1, 2007 and November 30, 2007 you may, no later than February 4, 2008, request that the Court appoint you as lead plaintiff. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. To be appointed lead plaintiff, the Court must decide that your claim is typical of the claims of other class members, and that you will adequately represent the class. Your ability to share in any recovery is not affected by the decision whether or not to serve as a lead plaintiff. You may retain Girard Gibbs LLP, or other attorneys, to serve as your counsel in this action.

If you wish to discuss this action or your rights as an investor in VeriFone, or to learn more about this case, please contact Aaron Sheanin, Esq. toll free at (866) 981-4800 or complete the information sheet below.

 

Click here to view and print a copy of the VeriFone Class Action Complaint.

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