Global Payments Inc. : Robbins Umeda LLP Announces an Investigation of Global Payments Inc.
04/10/2012| 04:20pm US/Eastern
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Shareholder rights firm Robbins
Umeda LLP is investigating possible breaches of fiduciary duty and
other violations of the law by certain officers and directors at Global
Payments Inc. (NYSE: GPN). Concerned shareholders who would like more
information about their rights and potential remedies can contact
attorney Gregory E. Del Gaizo at (800) 350-6003, info@robbinsumeda.com,
or via the shareholder
information form on the firm's website.
Robbins Umeda LLP is investigating whether officers and directors of
Global Payments, a credit card transaction processing company, breached
their fiduciary duties to shareholders by failing to maintain adequate
data security systems and by making improper statements about the
company's business and security infrastructure.
On March 30, 2012, Global Payments reported a significant security
breach in which account numbers and other key information was stolen
from up to 1.5 million accounts. Two days later, the company further
reported that the thieves had stolen card account numbers, expiration
dates, and security codes, and had been able to export the data, which
can have more serious implications than if hackers are just able to view
the information.
In response to the data breach, Visa rescinded its seal of approval from
Global Payments and removed the company from its list of "compliant
service providers." Upon these announcements, the Company's value fell
from $52.23 per share on March 29, 2012, to close at $45.74 per share on
April 2, 2012, a decline of over 12%.
Robbins Umeda LLP is a nationally recognized leader in securities
litigation and shareholder rights law. The firm represents individual
and institutional investors in shareholder derivative and securities
class action lawsuits, and has helped its clients realize more than $1
billion of value for themselves and the companies in which they have
invested. For more information, please go to http://www.robbinsumeda.com.
Press release link: http://www.robbinsumeda.com/shareholders-rights-blog/global-payments-inc/
Attorney Advertising. Past results do not guarantee a similar outcome.
Robbins Umeda LLP
Gregory E. Del Gaizo
(619) 525-3990 or Toll
Free (800) 350-6003
Info@robbinsumeda.com
www.robbinsumeda.com
© Business Wire 2012
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