SAN DIEGO, June 10, 2014 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed on behalf of certain purchasers of Higher One Holdings, Inc (ONE) common stock over alleged violations of Federal Securities Laws by Higher One Holdings, Inc in connection with certain allegedly false and misleading statements made between August 7, 2012 and May 12, 2014.
If you purchased shares of Higher One Holdings, Inc (ONE), you have certain options and for certain investors are short and strict deadlines running. Higher One Holdings investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff claims that between August 7, 2012 and May 12, 2014 defendants made allegedly false and/or misleading statements and/or failed to disclose that Higher One Holdings, Inc's marketing and disclosure practices were in violation of the Federal Trade Commission Act, that Higher One Holdings, Inc's allegedly improper marketing and disclosure practices would subject Higher One Holdings, Inc to potential restitution demands and civil penalties, and that the amounts of potential restitution demands and civil penalties could reach levels that would cause an event of default under the Company's Credit Facility.
On May 12, 2014, Higher One Holdings, Inc disclosed that it is facing penalties from the Federal Reserve over asserted violations of the Federal Trade Commission Act relating to marketing and disclosure practices related to the OneAccount option for financial aid refund. The Company noted in the filing that the penalties it faces have the potential to trigger a default on its credit facility.
Shares of Higher One Holdings, Inc declined from as high as $13.48 per share in September 2012 to as low as $3.48 per share on June 3, 2014.
The plaintiff seeks to recover damages on behalf of all purchasers of Higher One Holdings, Inc common shares between August 7, 2012 and May 12, 2014.
Those who purchased shares of Higher One Holdings, Inc (ONE) have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.