NEW YORK, July 4, 2014 /PRNewswire/ --Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Higher One Holdings, Inc. ("Higher One" or the "Company") (NYSE: ONE) of the July 28, 2014 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Higher One and certain executives.
A complaint has been filed on behalf of all persons who purchased Higher One securities between August 7, 2012 and May 12, 2014, inclusive (the "Class Period") in the District of Connecticut.
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the complaint alleges that the Company made false and/or misleading statements and/or failed to disclose that Higher One's disclosure and marketing practices had violated the Federal Trade Commission Act, which would subject it to potential restitution demands that could trigger an event of default under the Credit Facility of the Company.
On May 12, 2014, the Company announced that it is facing penalties regarding alleged violations in connection with the marketing of a debit account for financial aid refunds. The potential penalties could reach levels that would cause a default under Higher One's Credit Facility.
Following this news, the Company's shares dropped $0.90, or over 14%, to close at $5.51 on May 13, 2014.
Request more information now by clicking here: www.faruqilaw.com/ONE. There is no cost or obligation to you.
Take Action
If you invested in Higher One stock or options between August 7, 2012 and May 12, 2014 and would like to discuss your legal rights, visit www.faruqilaw.com/ONE. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Higher One's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.
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