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Green Dot Corporation GDOT Securities Lawsuit

Company: Green Dot Corporation
Ticker Symbol: GDOT
Class Period: Jan-26-12 to Jul-26-12
Date Filed: Jul-31-12
Lead Plaintiff Deadline: Sep-29-12
Court: Central District of California
New York, NY: A securities class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of all purchasers of Green Dot securities between January 26, 2012 and July 26, 2012, inclusive (the "Class Period"). The Class Action Complaint alleges violations of federal securities laws against the Company and certain of its executive officers. No class has yet been certified in this action.

Green Dot provides widely distributed, low cost banking and payment solutions to a broad base of domestic consumers. Green Dot's products and services include General Purpose Reloadable ("GPR") prepaid cards. The Complaint alleges that throughout the Class Period the defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about Green Dot' business, operations and prospects. Specifically, the Complaint alleges that the defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company' new internal risk policies and procedures were negatively impacting Green Dot' growth in new account activations; (2) that certain of Green Dot' retailers were planning to start selling competitive GPR products in addition to the Company' products; (3) that the Company lacked historical data to accurately predict how other retailers' sales of competitive GPR products would impact Green Dot' sales; and (4) that, as a result of the foregoing, the defendants' positive statements about Green Dot' business, operations and prospects, as well as those regarding Green Dot' revenue outlook for the 2012 fiscal year, lacked a reasonable basis.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.

Green Dot Corporation GDOT Securities Fraud Legal Help

If you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible Green Dot Corporation securities class action lawsuit. Please click the link below to submit your complaint for a free evaluation.
Published on Aug-1-12


Posted by

I have 2000.00 floating around on green dot and another 1000.00 on the card and im not in any way happy about my money available to green dot and not to me. i tried to use my card and that was declined. i need a law suit!

Posted by

Green dot closed my account without my knowledge. They emailed me after numerous attempts to call there customer service line and could not get through to a live person because of my account being closed the automated system would not put me through. They emailed to let me know I would receive my refund check in 10 days. I never received this. I was almost kicked out of my apartment due to this. This is the most horrible experience I have ever had and continue to have.

Posted by

Green Dot's business practice is very questionable. I got one of their secure credit cards with $200 to start. I had to call them every day since March 1st because of issues that they have done. When I was assured, just yesterday that there will be no problem to load $4800 on the card, I took them at their word. Now, the transaction couldn't be placed and they locked me out of the account. I get a message to call a certain number to unblock it, and their business is closed! They keep on delaying this activation. Right now, this has cost me in time and money!

Posted by

green do balanced a check they used check made up story a story that check was pay out they same amount that was was payed out that same amt: the same amt: that thay stopped payment

Posted by

Please help! I haven't had my money from a green dot. Is a gift card in over 2 1/2 months. I used it once then my account got closed and they took my money. I have called and talked with numerous people, even the fraud department. I submitted all my paperwork including he receipt and they are still trying to give my money to someone else. I even said I would drive to the headquarters. They are stealing my money. I really need that money to help my family, and was counting on it. This company is horrible and I'm not the first person that they have done this too. Please help!


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