S1 Settles Shareholder Class Action Over Purchase Offers

Law360, New York (October 26, 2011, 4:30 PM EDT) -- Payments processing company S1 Corp. said Tuesday it had settled a shareholder class action over rebuffed takeover offers from rivals Fundtech Ltd., which has since been bought by a private equity firm, and ACI Worldwide Inc.

S1 said it had reached an agreement in principle to settle the consolidated suit by making additional disclosures about the proposed transactions, although the company didn't admit "in any way that those disclosures are material or are otherwise required by law." The changes won't affect the offer price, the company...
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