| COMPANY |
Green Dot Corporation |
| COURT |
United States District Court for the Central District of California |
| CASE NUMBER |
19-cv-10701 |
| JUDGE |
The Honorable Dean D. Pregerson |
| CLASS PERIOD |
May 9, 2018 - November 7, 2019 |
| SECURITY TYPE |
All Securities |
Case Background:
On December 18, 2019, the initial complaint in this securities class action was filed against Green Dot Corporation (“Green Dot”), and certain of Green Dot’s officers and directors, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action on behalf of all investors who purchased or otherwise acquired Green Dot securities between May 9, 2018, and November 7, 2019, both dates inclusive (the “Class Period”).
The complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose 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.
Current Status of Case:
On March 29, 2024, the Court entered an Order denying Motion to Dismiss. This matter is in the discovery phase and is still ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji,Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.