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Brodsky & Smith LLC has filed a class-action lawsuit against Heartland Payment Systems Inc., the Bala Cynwyd, Penn.-based law firm announced today. The lawsuit alleges the payment processor violated federal securities laws by issuing a series of statements that "artificially" inflated the price of Heartland's shares. This is the fourth such suit filed against Princeton, N.J.-based Heartland (CardLine 1/29). Heartland has not issued any statements about the lawsuits. However, during a conference call with analysts last month to discuss the company's earnings, Robert H.B. Baldwin Jr., Heartland president and chief financial officer, said, "We intend to vigorously defend any claims asserted against us, and we believe we have meritorious defenses to the claims asserted against us to date."
