NEW YORK, Aug. 10, 2012 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Green Dot Corporation ("Green Dot" or the "Company") (NYSE: GDOT).
The investigation focuses on whether Green Dot and its executives violated federal securities laws by failing to disclose that: (1) the Company's new internal risk policies and procedures were negatively impacting Green Dot's growth in new account activations; (2) certain of Green Dot's retailers were planning to start selling competitive GPR products in addition to the Company's products; and (3) the Company lacked historical data to accurately predict how other retailers' sales of competitive GPR products would impact Green Dot's sales.
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If you purchased Green Dot securities between January 26, 2012 and July 26, 2012 and would like to discuss your legal rights, visit www.faruqilaw.com/GDOT. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com or firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Green Dot's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
Francis McConville, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
SOURCE Faruqi & Faruqi, LLP