Four more law firms have filed class-action lawsuits against VeriFone Holdings Inc. over alleged violations of the U.S. Securities Exchange Act of 1934, bringing the total to 10. The suits stem from the San Jose, Calif.-based payment-terminal maker's Dec. 3 announcement that it would need to restate results for the value of inventory moving between VeriFone locations for the first three quarters of its 2007 fiscal year, which ended Oct. 31 (CardLine 12/3). The announcement has sent the price of VeriFone's stock plummeting, from a close of $48.03 per share on Nov. 30 to a …
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