Glancy Binkow & Goldberg Announces Lead Plaintiff Deadline In The Class Action Lawsuit Against Net1 UEPS Technologies, Inc.
04 Januar 2014 - 3:32AM
Business Wire
Glancy Binkow & Goldberg LLP announces that all purchasers
of the securities of Net1 UEPS Technologies, Inc. (“Net1” or the
“Company”) (NASDAQ:UEPS) between August 27, 2009 and November 27,
2013, inclusive (the “Class Period”), have until February 24, 2014,
to file a motion to be appointed as lead plaintiff in the
shareholder lawsuit filed in the United States District Court for
the Southern District of New York.
A COPY OF THE COMPLAINT IS AVAILABLE FROM THE COURT OR FROM
GLANCY BINKOW & GOLDBERG LLP. PLEASE CONTACT US AT (212)
682-5340, TOLL-FREE AT (888) 773-9224, OR AT
SHAREHOLDERS@GLANCYLAW.COM TO DISCUSS THIS MATTER OR OTHER
POTENTIAL CLAIMS IF YOU PURCHASED NET1 STOCK PRIOR TO THE CLASS
PERIOD. IF YOU INQUIRE BY EMAIL PLEASE INCLUDE YOUR MAILING
ADDRESS, TELEPHONE NUMBER AND NUMBER OF SHARES PURCHASED.
Net1 provides payment solutions and transaction processing
services for various industries in South Africa, Korea, Europe and
internationally. The Complaint alleges that throughout the Class
Period the Company and certain of its executive officers issued
materially false and misleading statements concerning the Company's
business and operations. Specifically, the Complaint alleges that
the defendants misrepresented or failed to disclose that the
Company’s practices to secure contracts in South Africa were in
violation of the Foreign Corrupt Practices Act and, as a result,
that the Company’s financial statements were materially false and
misleading at all relevant times.
On December 4, 2012, Net1 disclosed that the U.S. Department of
Justice, Criminal Division, and the Federal Bureau of Investigation
had begun an investigation into whether Net1 and its subsidiaries,
including certain of their employees and agents and other possibly
affiliated persons and entities, violated provisions of the Foreign
Corrupt Practices Act and other U.S. federal criminal laws by
engaging in a scheme to make corrupt payments to officials of the
Government of South Africa. Then, on November 29, 2013, Net1
disclosed that the Constitutional Court of South Africa ruled that
the tender process followed by the South African Social Security
Agency in awarding a contract to Net1’s wholly owned subsidiary
Cash Paymaster Services (Proprietary) Limited was constitutionally
invalid.
If you are a member of the Class described above, you may move
the Court no later than February 24, 2014, to serve as lead
plaintiff; however, you must meet certain legal requirements. If
you wish to learn more about this action, or if you still hold
shares of Net1 purchased prior to August 27, 2009, and have any
questions concerning this announcement or your rights or interests
with respect to these matters, please contact Michael Goldberg,
Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park
East, Suite 2100, Los Angeles, California 90067, Toll-Free at (888)
773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow &
Goldberg LLP at 122 E. 42nd Street, Suite 2920, New York, New York
10168, at (212) 682-5340, by e-mail to shareholders@glancylaw.com,
or visit our website at http://www.glancylaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
Glancy Binkow & Goldberg LLP, Los Angeles, CAMichael
Goldberg(888) 773-9224orGlancy Binkow & Goldberg LLP, New York,
NYGregory Linkh(212)
682-5340shareholders@glancylaw.comwww.glancylaw.com
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