NEW YORK, Dec.2, 2013 /PRNewswire/ --Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of Net 1 UEPS Technologies, Inc. ("Net 1 UEPS" or the "Company")(NASDAQ: UEPS). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 237.
The investigation concerns whether Net 1 UEPS and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. On Friday, November 29, 2013, shares of Net 1 UEPS fell on higher than usual volume after the company announced that the South African Constitutional Court ruled that the tender process followed by the South African Social Security Agency in awarding a contract to Net1's wholly owned subsidiary Cash Paymaster Services (Proprietary) Limited was constitutionally invalid.
On this news, shares of Net 1 UEPS fell $3.34 per share to $8.19, or more than 28.9%, on November 29, 2013.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz Grossman Hufford Dahlstrom & Gross LLP
rswilloughby@pomlaw.com
SOURCEPomerantz Grossman Hufford Dahlstrom & Gross LLP
