NEW YORK, Feb. 11, 2014 /PRNewswire/ -- Levi &
Korsinsky announces that a class action lawsuit has been commenced
in the United States District Court for the Southern District of
New York on behalf of investors
who purchased Net 1 UEPS Technologies, Inc. ("Net 1" or the
"Company") (Nasdaq: UEPS) common stock between August 27, 2009 and November 27, 2013.
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For more information, click here:
http://zlk.9nl.com/net1-ueps-technologies-ueps.
The complaint alleges that Net 1 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, Net 1
disclosed that it was under investigation by the U.S. Department of
Justice, Criminal Division, and the Federal Bureau of Investigation
regarding whether Net 1 and its subsidiaries 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, Net 1
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 Net 1's wholly owned subsidiary Cash Paymaster Services
(Proprietary) Limited was constitutionally invalid.
If you suffered a loss in Net 1 you have until February 24, 2014 to request that the Court
appoint you as lead plaintiff. Your ability to share in any
recovery doesn't require that you serve as a lead plaintiff. To
obtain additional information, contact Joseph E. Levi, Esq. either via email at
jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877)
363-5972, or visit
http://zlk.9nl.com/net1-ueps-technologies-ueps.
Levi & Korsinsky is a national firm with offices in
New York, New Jersey, Connecticut, and Washington D.C. The
firm has extensive expertise in prosecuting securities litigation
involving financial fraud, representing investors throughout the
nation in securities and shareholder lawsuits. Attorney
advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
SOURCE Levi & Korsinsky, LLP