NEW YORK, May 28, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Total System Services, Inc. ("TSS" or the "Company") (TSS) in connection with the proposed acquisition of the Company by Global Payments Inc. ("GPN"). Under the terms of the agreement, TSS shareholders will receive 0.8101 shares of GPN for each TSS share they own, representing consideration of $119.75 based on GPN May 28 opening price of $147.83.
If you are a shareholder of TSS who wishes to discuss the investigation or have any questions about this notice and your rights or interests, please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
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WeissLaw is investigating whether TSS's Board acted to maximize shareholder value prior to entering into the agreement. Notably, at the close of the transaction, GPN and its shareholders will own 52% of the combined company. In addition, the deal is a strategic transaction which will propel GPN into leadership position in its industry. According to Bloomberg, the acquisition of TSS by GPN will "create a powerhouse that provides payment technology and software to more than 3.5 million small to mid-size merchants and more than 1,300 financial institutions worldwide."
Given these facts, WeissLaw is also investigating whether TSS' Board conducted a fair process in agreeing to the proposed merger, whether the proposed merger undervalues the Company, and whether all material information related to the proposed merger is fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com
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