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Case Status:    DISMISSED    
On or around 08/23/2019 (Other)

Filing Date: July 18, 2019

According to the Complaint, Total System Services, Inc. ("TSS" or the "Company") is a global payment solution provider that provides payment processing services, merchant services and related payment services to financial and nonfinancial institutions. Additionally, the Company provides general purpose reloadable prepaid debit and payroll cards, demand deposit accounts and other financial service solutions. The Company operates in three
segments: Issuer Solutions, Merchant Solutions, and Consumer Solutions.

On May 27, 2019, the Board caused the Company to enter into an agreement and plan of merger (“Merger Agreement”), pursuant to which the Company’s shareholders stand to receive 0.8101 shares of Global Payments Inc. stock for each share of TSS they own.

The Complaint alleges that on July 3, 2019, in order to convince TSS shareholders to vote in favor of the
Proposed Transaction, the Board authorized the filing of a materially incomplete and misleading Form S-4 Registration Statement with the Securities and Exchange Commission, in violation of Sections 14(a) and 20(a) of the Exchange Act.

This case was voluntarily dismissed on August 22, 2019.


Sector: Technology
Industry: Software & Programming
Headquarters: United States


Ticker Symbol: TSS
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data

"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: M.D. Georgia
DOCKET #: 19-CV-00114
JUDGE: Hon. Clay D. Land
DATE FILED: 07/18/2019
CLASS PERIOD END: 07/18/2019
  1. Faruqi & Faruqi LLP (New York)
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available