Shareholder rights law firm Robbins LLP announces that it is investigating Green Dot Corporation (NASDAQ: GDOT) for alleged violations of the Securities Exchange Act of 1934 and whether the Company's officers and directors breached their fiduciary duties to shareholders. Green Dot operates as a financial technology and bank holding company.
If you suffered a loss as a result of Green Dot's misconduct, click here.
Did Green Dot Corporation (GDOT) Mislead Shareholders?
Green Dot regularly touted the success of its business strategies until the Company revealed in its first fiscal quarter 2019 conference call that it was experiencing a decline in its legacy product line and non-direct deposit accounts. On June 30, 2019, Green Dot revealed that its account services segment "underperformed [its] expectations… in the first half in general due to a decline in [its] non[-]direct deposit active accounts…resulting in lower than anticipated prepaid unit sales." The stock declined significantly as a result and has yet to recover.
Green Dot Corporation (GDOT) Shareholders Have Legal Options
Robbins LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Click here to receive free alerts from Stock Watch when companies engage in wrongdoing.
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