Global Payments Inc.
Robbins Umeda LLP Announces an Investigation of Global Payments Inc.
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 complete the form below and we will contact you directly. You can also contact attorney Gregory E. Del Gaizo at (800) 350-6003.
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In response to the data breach, Visa rescinded its seal of approval from Global Payments and removed the company from its list of “compliant service providers.”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.