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Technology Stocks : VeriFone Holdings, Inc. (PAY) -- Ignore unavailable to you. Want to Upgrade?

To: hdl who wrote (94)	6/16/2012 7:04:38 PM
From: Sr K	Respond to of 186

VeriFone shares fall on disclosure of court ruling June 12, 2012 \| Dan Gallagher SAN FRANCISCO (MarketWatch) -- Shares of VeriFone Systems Inc. slid nearly 7% to $31.65 on Tuesday morning after the company disclosed in a regulatory filing that it received an unfavorable jury verdict from a patent infringement case in a Texas federal court. In the filing issued late Monday, VeriFone (US:pay) said the ruling would result in a pre-tax expense accrual of $17.6 million for its second fiscal quarter, and warned that it may have to pay further royalties to Cardsoft as a result of the decision. "While the financial impact of the unfavorable lawsuit is not overly material, it will not help the ongoing negative sentiment in the stock," Philip Stiller of Citigroup wrote in a note to clients.