Levi & Korsinsky, LLP Investigates Possible Breach of Fiduciary Duty by the Board of CyberSource Corporation

Levi & Korsinsky is investigating the Board of Directors of CyberSource Corporation (“CyberSource” or the “Company”) (NasdaqGS: CYBS) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Visa Inc. ("Visa") (NYSE: V). Under the terms of the transaction, CyberSource shareholders will receive $26.00 in cash for each CyberSource share of common stock they own for a total transaction value of approximately $2.0 billion.

For the quarter ending December 31, 2009, CyberSource reported total revenue of $76.094 million and net income of $5.080 million as compared to total revenue and net income of $65.662 million and $2.694 million, respectively, for the prior quarter. The investigation concerns whether the CyberSource Board of Directors breached their fiduciary duties to CyberSource stockholders by failing to adequately shop the Company before entering into this transaction and whether Visa is underpaying for CyberSource shares, thus unlawfully harming CyberSource stockholders.

If you own common stock in CyberSource and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500 or visit http://www.zlk.com/cybersource-corporation-cybs.html.

Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.

Cybersource (MM) (NASDAQ:CYBS)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024