Glancy Prongay & Murray LLP Announces Investigation on Behalf of Net 1 UEPS Technologies, Inc. Investors (UEPS)

Nov 13, 2018 03:56 pm

LOS ANGELES --

Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of Net 1 UEPS Technologies, Inc. investors (“Net 1 UEPS” or the “Company”) (NASDAQ: UEPS) concerning the Company and its officers’ possible violations of federal securities laws.

If you are a shareholder who suffered a loss, click here to participate.

On November 8, 2018, Net 1 UEPS announced that it will restate its financial statements for the year ended June 30, 2018 due to an accounting error concerning its investment in Cell C Proprietary Ltd. The same day, the Company lowered its guidance for fiscal year 2019 to $0.65 fundamental EPS from prior guidance of $1.05. The reduced guidance was reportedly due to “lower than previously expected EPE [EasyPay Everywhere] base as of September, as well as the resulting impact on [the] financial inclusion businesses, together with lower volumes and higher restructuring costs at IPG [International Payments Group].”

On this news, Net 1 UEPS’s share price fell $2.16 per share, or over 30%, to close at $4.84 per share on November 9, 2018, on unusually heavy trading volume.

If you purchased Net 1 UEPS securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20181113006169/en/

Glancy Prongay & Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
[email protected]
www.glancylaw.com

Return to Top

Disclaimer :: Use of this site is subject to, and your continued use constitutes your express agreement to be bound by, our Legal and Terms of Use. Any commercial use of this site is strictly prohibited. Insidertracking.com is operated by INK Research Corp (INK). INK provides general information. INK has made all reasonable efforts to ensure that all information provided is accurate at the time of inclusion; however, there may be errors. INK makes no guarantee of accuracy or completeness. All information and opinion expressed herein is subject to change without notice. Insider information is based on filings made either on EDGAR® or on the System for Electronic Disclosure for Insiders (SEDI®). Data is provided “as is” and by using this site you acknowledge that the information which comprises the data is filed by or on behalf of the SEDI filers or other parties legally required or permitted to do so. Filings may at any time contain errors and by using this site you acknowledge this fact. INK is not an investment advisory service, a financial planner, an investment advisor nor a securities advisor. INK does not purport to tell people, or suggest to people, what they should buy or sell for themselves. Opinions and recommendations contained herein should not be construed as investment advice. Do not assume that any recommendations, insights, charts, theories, or philosophies will ensure profitable investment. Users should always consult with and obtain advice from their professional licensed financial advisor, including their tax advisor, to determine the suitability of any investment. INK recommends that anyone making an investment or trading securities do so with caution. Users should perform full due diligence and investigate any security fully before making an investment or before the execution of a security trade based upon information learned through INK. Investors should obtain annual reports and other company information to complete their own due diligence in any investment. Neither INK nor anyone affiliated with INK is responsible for any investment decision made. INK employees may have an ownership or investment interest in any stock mentioned in this service or on this website. On this site, there may be third party content, content from authors or links to third-party sites or pages, the contents of which are not verified, maintained, controlled or supervised by INK. INK is not responsible for and assumes no liability for the accuracy, completeness or timeliness of any third party content or authored content provided herein or the information or contents of any linked sites or pages. The inclusion of any authored content or link by us does not imply that INK recommends, approves or endorses the authored content or linked site or pages. INK Edge® and INK Research® are registered trade-marks owned by INK Research Corp. SEDI® is a registered trade-mark owned by the Alberta Securities Commission. Copyright © 2024 INK Research Corp. All rights reserved.

Please make the indicated changes including the new text: US quotes snapshot data provided by IEX. Additional price data and company information powered by Twelve Data.

You are here

Glancy Prongay & Murray LLP Announces Investigation on Behalf of Net 1 UEPS Technologies, Inc. Investors (UEPS)