VeriFone (NYSE:PAY) said that a federal judge in California dismissed a shareholder derivative lawsuit against some of the company’s current and former directors and executives. The lawsuit was filed following quarterly results in 2007. Federal District Court Judge Marilyn Hall Patel found that investors who sued failed to provide reason to question the independence of a majority of the company’s board. The company’s shares are currently trading 1.49% higher at .51. SmarTrend is bullish on shares of VeriFone and our subscribers were alerted to buy on May 27, 2010 at .36. The stock has risen 26.2% since the alert was issued.
- Related posts on dismissed derivative
- Designating Delaware as the Exclusive Jurisdiction for Intra …
{ 0 comments }