World News: 01:18 GMT Thursday 12th September 2019. [Hagens Berman Sobol Shapiro LLP via Globe Newswire via SPi World News]
SAN FRANCISCO, Sept. 11, 2019 (GLOBE NEWSWIRE) -- Hagens Berman reminds investors in Green Dot Corporation (NYSE: GDOT) of the Firm’s investigation of possible violations of the federal securities laws. If you invested in Green Dot and suffered losses of , contact Hagens Berman via:
Email: Web: Phone:
The investigation centers on the accuracy of Green Dot’s statements about the demand for its banking-as-a-service (BaaS) platform and the sustainability of its business model.
On May 9, 2019, the Company disappointed investors when it slashed guidance and announced an expensive marketing initiative to attract new users. This news caused a massive 26% drop in Green Dot’s share price.
Then, on August 8, 2019, Green Dot announced another guidance reduction due to a steep decline in its legacy prepaid card product line and the Company’s delay in launching its newest BaaS product. This news caused Green Dot’s shares to plummet another 45%.
Globe Newswire: 01:18 GMT Thursday 12th September 2019
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