A U.S. appeals court has reversed the dismissal of a shareholder class action brought against VeriFone in the wake of its 2007 earnings restatement of three quarters from that year, the company stated in a Securities and Exchange Commission filing.
The 9th U.S. Circuit Court of Appeals in San Francisco made the decision. The case was originally put to bed by a lower court in March 2011. Reuters reported the news last week.