San Diego, CA -- (SBWIRE) -- 02/15/2012 -- The Shareholders Foundation announces that an investigation for investors in NASDAQ:NTSP shares was initiated over possible breaches of fiduciary duties by certain officers and directors of NetSpend Holdings Inc.
Investors who purchased shares of NetSpend Holdings Inc (NASDAQ:NTSP), 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 NetSpend Holdings (NTSP) shareholder claims based on potential breaches of fiduciary duties by certain NetSpend Holdings officers and directors. Specifically, the investigation concerns whether certain directors and officers of NetSpend Holdings Inc harmed NetSpend Holdings by breaching their fiduciary duties to shareholders by causing or permitting the company to engage in deceptive and unfair practices.
In May 2011, the Florida Attorney General announced an investigation of five prepaid debit card companies, including NetSpend Holdings Inc, 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.
NTSP stocks fell from over $15 in February 2011 to under $4 per share in August 2011.
Those who purchased shares of NetSpend Holdings Inc (NASDAQ:NTSP), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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