Net 1 UEPS Technologies, Inc. Securities Litigation
On or around 04/08/2020 (Date of last review)
Filing Date: December 05, 2019
According to the Complaint, UEPS provides transaction processing services, financial inclusion products and services, and payment and cryptographic technology.
The Complaint alleges that throughout the Class Period, UEPS made false and/or misleading statements and/or failed to disclose that: (1) the Company lacked effective internal control over financial reporting; (2) the Company had misclassified its investment in Cell C Proprietary Limited; (3) the Company's financial statements for the fiscal year 2018 were overstating its income; and (4) as a result of the foregoing, the Company's financial statements were materially false and misleading at all relevant times.
On March 25, 2020, the Court issued an Order appointing Lead Plaintiff and Counsel.
Company & Securities Information
Defendant: Net 1 UEPS Technologies, Inc.
Industry: Software & Programming
Ticker Symbol: UEPS
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Jonathan Baldwin, et al. v. Net 1 UEPS Technologies, Inc., et al.
COURT: S.D. New York
DOCKET #: 19-CV-11174
JUDGE: Hon. P. Kevin Castel
DATE FILED: 12/05/2019
CLASS PERIOD START: 09/12/2018
CLASS PERIOD END: 11/08/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Levi & Korsinsky LLP (New York)
First Identified Complaint (FIC) Filings:
Class Action Complaint for Violations of the Federal Securities Laws
Opinion and Order
U.S. District Court Civil Docket
—Reference Complaint Complaint Related Data is not available
Related District Court Filings
—Related District Court Filings Data is not available