San Diego, Oct. 28, 2011 (Shareholders Foundation) -- An investigation on behalf of investors in shares of Meta Financial Group Inc. (NASDAQ:CASH) over possible Violations of Federal Securities Laws was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Meta Financial Group (NASDAQ CASH) concerning whether the company, certain of its officers and directors, or others have possibly violated federal securities laws. Specifically, the investigation focuses on allegations by the Office of Thrift Supervision ('OTS') wherein it determined that Meta Financial Group had possibly engaged in 'unfair or deceptive acts or practices in violation of Section 5 of the Federal Trade Commission Act and the OTS Advertising Regulation in connection with the Bank's operation of the iAdvance program.' The investigation also focuses on the Company's disclosure that the anticipated discontinuance of the iAdvance program and the potential discontinuance of tax-related programs would 'eliminate a substantial portion of [the Company's] gross profit.'

Meta Financial Group reported that its Net Loss of $1.46 ending for a 12months period on Sept. 30, 2009 rose to a Net Income of $12.39million ending for a 12months period on Sept. 30, 2010.

Shares of Meta Financial Group Inc. (Public, NASDAQ:CASH) rose from as low as $7.44 in March 09 to as high as $35 per share in August 2010, but then fell from almost $33 per share on October 8, 2010 to $12.80 on October 29, 2010. In 2011 NASDAQ: CASH stocks were able to breach through $20 in July 2011, but fell to recently $14 per share.