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News Breaks | | | | February 20, 2013 | | 06:18 EDT |  | TSS | Total System downgraded to Hold from Buy at Jefferies
Jefferies downgraded Total Systems (TSS) citing the surprising acquisition of Netspend (NTSP) which is a change in strategy and may result margin and pricing pressures. | |
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News For TSS From The Last 14 Days Check below for free stories on TSS the last two weeks. |
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| May 22, 2013 | | 18:33 EDT |  | TSS | NetSpend says Court denies plaintiff's motion for preliminary injunction
NetSpend Holdings (NTSP) announced that on May 21, the Court of Chancery of the State of Delaware issued a memorandum opinion in Koehler v. NetSpend Holdings et al. denying the plaintiff's motion for a preliminary injunction, which sought to enjoin a shareholder vote on the company's proposed merger with Total System Services (TSS), while finding that a reasonable likelihood exists that the sales process undertaken by the NetSpend Board of Directors was not designed to produce the best price for the stockholders. NetSpend believes that its Board of Directors acted appropriately and pursued a process intended to achieve the best price for the company and intends to continue to vigorously defend itself in the litigation. The Court's ruling will not affect the timing of the company's special meeting of stockholders, which will be held as scheduled on May 31. | |
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