The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Green Dot Corporation (NYSE: GDOT) who purchased shares between May 9, 2018 and November 7, 2019. The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
In particular, the Green Dot lawsuit alleges that (1) Green Dot’s strategy to attract “high-value” long-term customers was at the expense of “one and done” customers; (2) Green Dot’s “one and done” customers represented a significant source of revenues in its legacy segment; (3) consequently, Green Dot’s strategy was self-sabotaging; and (4) as a result of the foregoing, Defendants’ statements about its business and operations were materially false and misleading at all relevant times.
Shareholders have until February 18, 2020 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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