BENSALEM, Pa., Feb. 24, 2009 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith announces that it is investigating potential claims against Heartland Payment Systems, Inc. ("Heartland Payment Systems" or the "Company") (NYSE:HPY), concerning possible securities violations related to public statements made by the Company between August 5, 2008 and February 23, 2009. Heartland Payment Systems, a New Jersey-based credit-card processor for more than 250,000 businesses nationwide, has disclosed that its payment processing network was compromised in what The Wall Street Journal has cited as ranking among the biggest data breaches ever reported.
The investigation focuses on allegations that statements made by the Company during that period were false and misleading and failed to disclose or indicate, among other things, that: (1) the Company's safety and security measures designed to protect consumers' financial records and data from security breaches were inadequate and ineffective; (2) the Company faced liabilities associated with a breach of the Company's payment processing network and increasing costs associated with implementing appropriate security measures; and (3) as a result of a breach in the Company's payment processing network, the Company was at risk of losing customers.
If you purchased Heartland Payment Systems common stock between August 5, 2008 and February 23, 2009, or if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com.