NetSpend Delays Meeting On $1.4B Sale To End Investor Suit

Law360, Wilmington (May 29, 2013, 8:45 PM EDT) -- Prepaid debit card provider NetSpend Holdings Inc. said Wednesday that it will push back a shareholder meeting to consider a planned $1.4 billion sale to Total System Services Inc. to June 18 in order to mull other unsolicited proposals and settle a shareholder class action in Delaware opposing the deal.

The proposed settlement, which still requires court approval, would lower the termination fee and reduce the matching period in the deal, the company said in a statement, and could be enough to satisfy shareholders who sued...
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