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Green Dot Corporation (NYSE: GDOT) Investor Securities Class Action Lawsuit 07/27/2012

  • If you purchased shares of Green Dot Corporation (NYSE: GDOT), you might have certain options and should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Case Dismissed
Company
Green Dot Corporation
Security
NYSE: GDOT

Case Name
Green Dot Shareholder Class Action Lawsuit 07/27/2012
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Central District of California

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

June 19, 2013 - The court dismissed the lawsuit with prejudice.
February 11, 2013 - Defendants filed a motion to dismiss.

December 27, 2012 - The lead plaintiff filed a corrected amended consolidated complaint.

December 21, 2012 - The lead plaintiff filed an amended consolidated complaint.

October 25, 2012 - Lead plaintiff and lead counsel were appointed and all cases were consolidated.

September 25, 2012 - Lead plaintiff motion was filed.

July 27, 2012 - 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 Corporation 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 Corporation'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.