Hypercom Corp. Class Action DIsmissed

Shareholders tried to file a class action lawsuit against the global payment technology company alleging securities violations related to Hypercom's restatement of its financial statements for the first three quarters of 2004. A Judge for the U.S. District Court for the District of Arizona has dismissed the case stating that "the plaintiffs failed to plead particularized facts establishing a strong inference that the company and the other defendants acted with scienter, as required by the Private Securities Litigation Reform Act of 1995." (Jan-26-06) [BUSINESS WIRE]