Green Dot Corporation (NYSE:GDOT) Investor Files Class Action Lawsuit Over Alleged Securities Laws Violations

If you purchased shares of Green Dot Corporation (NYSE:GDOT) between January 26, 2012 and July 26, 2012, you have certain options and there are strict and short deadlines running. Deadline: Sept. 25, 2012. NYSE:GDOT investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Green Dot
Case Name: 
Green Dot Shareholder Class Action Lawsuit 07/27/2012
Case Status: 
Lawsuit Filed
Affected Securities
NYSE: GDOT
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
07/27/2012
Class Period Begin: 
01/26/2012
Class Period End: 
07/26/2012
Court of Filing: 
U.S. District Court for the Central District of California
Deadline To File for Lead: 
09/25/2012
Summary: 

July 27, 2012 (Shareholders Foundation) -- An investor in shares of Green Dot Corporation (NYSE:GDOT) filed a lawsuit in the U.S. District Court for the Central District of California against Green Dot Corporation (NYSE:GDOT) over alleged Violations of Federal Securities Laws in connection with certain financial statements made between January 26, 2012 and July 26, 2012.

According to the complaint the plaintiff alleges on behalf of a class consisting of all purchasers of the securities of Green Dot Corporation (NYSE:GDOT) between January 26, 2012 and July 26, 2012, that Green Dot Corp and certain of its executive officers violated the Securities Exchange Act of 1934 by allegedly issuing false and/or misleading statements, as well as failing to disclose material adverse facts about Green Dot's business, operations and prospects.

Green Dot Corporation (NYSE:GDOT) reported that its annual Revenue increased from $377.26million in 2010 to $484.74million in 2011 and its Net Income rose over the same time periods from $42.23million to $52.08million.

Then on July 26, 2012, after the market closed, Green Dot Corporation (NYSE:GDOT) reported its second quarter 2012 financial results. Among other things, Green Dot Corporation, also updated its 2012 guidance.

Shares of Green Dot Corporation (NYSE:GDOT) dropped from $23.32 per share on July 26, 2012, to $9.20 per share during July 27, 2012.