San Diego, CA -- (SBWIRE) -- 02/15/2012 -- The Shareholders Foundation announces that the investigation on behalf of investors in NYSE:GDOT shares continues concerning possible breaches of fiduciary duties by certain officers and directors at Green Dot Corporation.
Investors who purchased shares of Green Dot Corporation (NYSE:GDOT), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible Green Dot (GDOT) shareholder claims based on potential breaches of fiduciary duties by certain Green Dot Corporation officers and directors. Specifically, the investigation concerns whether the directors and officers of Green Dot Corp. harmed the company by breaching their fiduciary duties to GDOT shareholders by causing or permitting the company to engage in deceptive and unfair consumer practices.
Shares of Green Dot Corporation traded during January 2011 as high as $64.29 per share.
Then in May 2011, the Florida Attorney General announced an investigation of five prepaid debit card companies, including Green Dot Corporation for possible deceptive and unfair practices. The announcement stated that the Attorney General’s Economic Crimes Division issued a series of subpoenas regarding possible hidden fees on prepaid debit cards and some subpoenas also ask for information about possible misrepresentations promising to improve consumers’ credit scores. The Attorney General’s Office said it has reviewed complaints alleging that the companies servicing prepaid debit cards often fail to disclose numerous fees and in some instances, every transaction a consumer makes using a prepaid debit card may be subject to a hidden fee.
GDOT shares fell from almost $65 per share in January to as low as $25.11 on August 8, 2011.
Those who purchased shares of Green Dot Corporation (Public, NYSE:GDOT), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego