METAIRIE, La., Dec. 3, 2007 (PRIME NEWSWIRE) -- The Law Offices of Eric J. O'Bell, LLC ("O'Bell") announces that it is commencing an investigation into VeriFone Holdings Inc. ("VeriFone" or the "Company") (NYSE:PAY) to determine whether it has violated federal securities laws by issuing materially false and misleading statements to shareholders.
VeriFone, a provider of electronic payment systems, announced today that it will restate results for its fiscal first, second and third quarters of 2007, due to accounting errors related to in-transit inventory. VeriFone reported that it will file its restated quarterly reports, along with its fiscal annual report, in January. As of mid-morning, VeriFone shares have fallen over forty-seven percent to approximately $24.00 per share.
If you are a VeriFone shareholder, and/or have information that would assist in this ongoing investigation, or have other questions relating to a loss you've suffered in your investment, you may contact Eric J. O'Bell directly without obligation or cost to you at 504-456-8677; 504-616-9400 after hours; or by email to ejo@obelllawfirm.com.