Hypercom Corp. is suing VeriFone Systems Inc. for disclosing its $284 million bid for Hypercom, Bloomberg is reporting.
Scottsdale, Ariz.-based Hypercom filed its suit in the Delaware Chancery Court. The terminal maker alleges that competitor VeriFone violated a confidentiality agreement when it made its offer public (see story).
Hypercom wants the court to prevent VeriFone from moving ahead with its “hostile offer,” Bloomberg reports.
A VeriFone spokesperson declined to comment, and a Hypercom spokesperson did not immediately return a call from PaymentsSource seeking comment.