Shareholders Foundation, Inc.

Bottomline Technologies (NASDAQ:EPAY) Investor Investigation over Potential Wrongdoing

An investigation for current long-term investors in shares of Bottomline Technologies (NASDAQ:EPAY) over potential wrongdoing by certain officers and directors of Bottomline Technologies was announced and current NASDAQ:EPAY stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com

 

San Diego, CA -- (ReleaseWire) -- 01/09/2013 -- An investigation on behalf of current long-term stockholders of shares of Bottomline Technologies (NASDAQ:EPAY) was announced concerning whether certain Bottomline Technologies officers and directors possibly breached their fiduciary duties in connection with certain statements.

Investors who are current long-term stockholder of shares of Bottomline Technologies (NASDAQ:EPAY) have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain Bottomline Technologies officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders’ approval to amend the Company’s Amended and Restated Certificate of Incorporation

In the Proxy Statement filed by Bottomline Technologies with the Securities and Exchange Commission (“SEC”) the Board of Directors recommends that Bottomline Technologies’ shareholders vote to approve the amendment of Bottomline Technologies’Amended and Restated Certificate of Incorporation to increase the number of shares of common stock from 50,000,000 to 100,000,000.

According to the investigation the issuance of the additional shares could have a severe dilutive effect on the shares of Bottomline Technologies (NASDAQ:EPAY) common stock.

Bottomline Technologies reported that its Total Revenue rose from $189.38 million for the 12 months period that ended on June 30, 2011 to $224.28 million for the 12 months period that ended on June 30, 2012. However, its Net Income for the respective time periods fell from $35.89 million to $1.71 million.

Shares of Bottomline Technologies (NASDAQ:EPAY) declined from as high as $29.35 per share in February 2012 to as low as $17.06 per share in early June 2012.

The total compensation of certain to officials at Bottomline Technologies increased significantly between its FY 2010 and 2012. For instance the President and CEO’s total pay increased from over $1.63 million for the FY 2010 to over $3.07 million for the FY 2012 and the CFO’s total compensation rose from over $482,000 in the FY 2010 to over $861,000 in the FY 2012.

Those who purchased shares of Bottomline Technologies (NASDAQ:EPAY), have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Jacob Rosenfeld
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com