Welcome to the VeriFone Holdings, Inc. Securities Litigation Settlement Website
This website has been established to provide general information related to the
In re VeriFone Holdings, Inc. ("VeriFone") Securities Litigation and resulting Settlement
Fund. The capitalized terms used on this website, and not defined herein, shall
have the same meanings ascribed to them in the Stipulation of Settlement dated August 9, 2013.
Within this site, you will find detailed information about the proposed Settlement,
the rights and options of Settlement Class Members, how to file a claim, eligibility
for participation and distribution, and answers to frequently asked questions.
This Litigation alleges that VeriFone and certain of its executives violated the
federal securities laws by falsely representing throughout the Class Period that:
(1) the Company's April 2006 acquisition of Lipman Electronic Engineering Ltd. would,
and did, increase gross margins and earnings in 2007; (2) VeriFone's 1Q07, 2Q07
and 3Q07 financial results were fairly presented in all material respects; (3) they
had evaluated the Company's disclosure controls and procedures and concluded they
were effective; and (4) the reported increases in 1Q07, 2Q07 and 3Q07 gross margins
and earnings were the result of higher-margin wireless revenue, better supply chain
efficiencies and better sourcing of strategic components, procurement synergies
and other factors. Lead Plaintiff alleges that when Defendants disclosed the truth
about the Company's financial results, Class Members suffered damages as a result
of the decline in the price of VeriFone Publicly Traded Securities.
Defendants deny all of Lead Plaintiff's allegations and further deny that they did
In exchange for the Settlement and dismissal of the Action, the Defendants have
agreed to the payment of $95 million to be divided, after taxes, fees, and expenses,
among all eligible Class Members who send in a valid Proof of Claim form.
Class Counsel in this matter is Robbins Geller Rudman & Dowd LLP.
Although the information in this website is intended to assist you, it does
not replace the information contained in the Notice of Proposed Settlement of Class
Action or the Class Action Settlement Agreement, both of which can be downloaded
from this website. We recommend that you read the Notice carefully.
Your Legal Rights and Options in the Settlement
Submit a Claim Form
Go to a Hearing
The only way to receive a payment.
Get no payment. This is the only option that allows you to participate in another
lawsuit against the Defendants for the legal claims in this case.
You may write to the Court if you do not like the settlement, the request for attorneys'
fees and expenses, or the Plan of Allocation.
You may ask to speak in Court about the fairness of the settlement, the request
for attorneys' fees and expenses, or the Plan of Allocation.
If you do nothing, you will not receive any payment, will not be allowed to object
to the settlement and will give up your right to participate in another lawsuit
against the Defendants for the legal claims in this case.
Submit Proof of Claim Form
December 30, 2013
December 30, 2013
January 29, 2014*
*The deadline to submit a Proof of Claim Form has been extended to April 30, 2014 only for potential Class Members
who purchased VeriFone shares on the Tel Aviv Stock Exchange (“TASE”).
In addition to extending the claim submission deadline for these potential Class Members, the
Notice of Proposed Settlement of Class Action and
Proof of Claim and Release, with the
extended deadline, have been translated into Hebrew and can be accessed by clicking the documents titles or
visiting the Case Documents tab of this website.