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Class-action law firm urges GDOT investors who have suffered losses of 50K+ to submit your loss now to learn if they qualify to recover their investment losses.
SAN FRANCISCO, Nov. 01, 2019 (GLOBE NEWSWIRE) -- Hagens Berman reminds investors in Green Dot Corporation (NYSE: GDOT) of the firm’s investigation of possible violations of the federal securities laws and urges GDOT investors who have suffered losses in excess of $50,000 to contact the firm.
Green Dot (GDOT) Investigation:
The investigation centers on the accuracy of Green Dot’s statements about the demand for its legacy prepaid credit line and if the Company inflated the number of its active users.
On May 8, 2019, the Company disappointed investors when it slashed guidance and announced an expensive marketing initiative to attract new users. Its executives explained it was “experiencing some erosion in the number of legacy product line.” This news caused a massive 26% drop in Green Dot’s share price.
Then, on August 7, 2019, Green Dot announced another guidance reduction due to a steep decline in its legacy prepaid card product line and the decline of 500,000 active prepaid accounts. This news caused Green Dot’s shares to plummet another 45%.
Whistleblowers: Persons with non-public information regarding Green Dot should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email GDOT@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000