S1 Corporation Agrees to Settle Shareholder Litigation
25 Octubre 2011 - 4:30PM
S1 Corporation (Nasdaq:SONE), a leading global provider of payments
and financial services software solutions, announced today that it
and other named defendants have reached an agreement in principle
with plaintiffs to settle the consolidated class action lawsuit
captioned In re S1 Corporation Shareholders Litigation. This
lawsuit relates to the now-terminated merger with Fundtech Ltd. and
the proposed acquisition of the Company by ACI Worldwide, Inc.
("ACI").
Pursuant to this agreement, the Company has filed
an amendment to its Solicitation/Recommendation Statement on
Schedule 14D-9 with the Securities and Exchange Commission, which
can be accessed free of charge at the SEC's website at www.sec.gov,
or the Company's website, www.s1.com. The amended Schedule 14D-9
contains certain additional disclosures the Company agreed to make
in connection with the settlement of the lawsuit, although the
Company has not admitted in any way that those disclosures are
material or are otherwise required by law. The settlement will not
affect the offer price to be paid in the current exchange offer by
a subsidiary of ACI or the merger consideration the Company's
stockholders would be entitled to receive pursuant to the terms of
the previously announced Transaction Agreement, dated as of October
3, 2011, by and among the Company, ACI and a subsidiary of ACI.
About S1 Corporation
Leading banks, credit unions, retailers, and
processors need technology that adapts to the complex and
challenging needs of their businesses. These organizations want
solutions that can respond quickly to changes in the marketplace
and help grow their businesses. For more than 20 years, S1
Corporation (Nasdaq:SONE) has been a leader in developing software
products that offer flexibility and reliability. Over 3,000
organizations worldwide depend on S1 for payments, online banking,
mobile banking, voice banking, branch banking and lending solutions
that deliver a competitive advantage. More information is available
at www.s1.com.
Forward Looking Statements
Certain statements in this letter may constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements include,
but are not limited to, those regarding any transaction with ACI
Worldwide, Inc., the settlement referred to herein and other
statements that are not historical facts. These statements involve
risks and uncertainties including those detailed in S1's Annual
Reports on Form 10-K and other filings with the Securities and
Exchange Commission ("SEC"). Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove
incorrect, actual outcomes may vary materially from those
forecasted or expected. S1 disclaims any intention or obligation to
update publicly or revise such statements, whether as a result of
new information, future events or otherwise.
Additional Information and Where to Find
It
S1 Corporation has filed a Solicitation/Recommendation Statement
on Schedule 14D-9, as amended, with the SEC. INVESTORS AND
STOCKHOLDERS ARE URGED TO READ THAT STATEMENT AND OTHER MATERIALS
FILED WITH THE SEC BY S1 BECAUSE THEY CONTAIN IMPORTANT
INFORMATION. S1 stockholders and other interested parties may
obtain, free of charge, copies of S1's Schedule 14D-9, as
amended, and other documents filed by S1 with the SEC at the SEC's
website at http://www.sec.gov. In addition free copies of the
documents filed by S1 with the SEC with respect to the exchange
offer may be obtained by contacting S1's Investor Relations at
(404) 923-3500 or by accessing S1's investor relations website at
www.s1.com.
CONTACT: S1 Corporation
Paul M. Parrish
Chief Financial Officer
404.923.3500
paul.parrish@s1.com
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