Shareholders Foundation, Inc.

Higher One Holdings, Inc (NYSE:ONE) Investor Alert: Lawsuit Alleges Misleading Statements

A lawsuit was filed on behalf of investors in Higher One Holdings, Inc (NYSE:ONE) shares over alleged securities laws violations. Deadline: July 28, 2014. NYSE:ONE investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com

 
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San Diego, CA -- (SBWIRE) -- 06/02/2014 -- An investor who purchased shares of Higher One Holdings, Inc (NYSE:ONE), filed a lawsuit in the U.S. District Court for the District of Connecticut over alleged violations of Federal Securities Laws by Higher One Holdings, Inc in connection with certain allegedly false and misleading statements made between August 7, 2012 and May 12, 2014.

Investors who purchased shares of Higher One Holdings, Inc (NYSE:ONE) have certain options and for certain investors are short and strict deadlines running. Deadline: July 28, 2014. NYSE:ONE investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on behalf of purchasers of Higher One Holdings, Inc (NYSE:ONE) common shares between August 7, 2012 and May 12, 2014, that the defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

The plaintiff claims that between August 7, 2012 and May 12, 2014 defendants made allegedly false and/or misleading statements and/or failed to disclose that Higher One Holdings, Inc's marketing and disclosure practices were in violation of the Federal Trade Commission Act, that Higher One Holdings, Inc’s allegedly improper marketing and disclosure practices would subject Higher One Holdings, Inc to potential restitution demands and civil penalties, and that the amounts of potential restitution demands and civil penalties could reach levels that would cause an event of default under the Company's Credit Facility.

Higher One Holdings, Inc reported that its annual Total Revenue rose from $197.72 million in 2012 to $211.12 million in 2013 while its Net Income declined from $36.87 million in 2012 ro $14.13 million in 2013. Shares of Higher One Holdings, Inc (NYSE:ONE) declined from as high as $17.96 per share in March 2013 to $5.80 on May 6, 2014.

Then on May 12, 2014, Higher One Holdings, Inc disclosed that it is facing penalties from the Federal Reserve over asserted violations of the Federal Trade Commission Act relating to marketing and disclosure practices related to the OneAccount option for financial aid refund. The Company noted in the filing that the penalties it faces have the potential to trigger a default on its credit facility.

Shares of Higher One Holdings, Inc declined from $6.41 per share on May 12, 2014, to $3.63 per share on May 15, 2014.

On May 29, 2014, NYSE:ONE shares closed at $3.65 per share.

Those who purchased shares of Higher One Holdings, Inc (NYSE:ONE) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com