ALERT: The Rosen Law Firm Announces Filing of Securities Fraud Class Action Against Net 1 UEPS Technologies, Inc. -- UEPS

NEW YORK, Dec. 27, 2013 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces the filing of a class action lawsuit on behalf of purchasers of Net 1 UEPS Technologies, Inc. (Nasdaq:UEPS) securities during the period from August 27, 2009 to November 27, 2013, seeking to recover damages for violations of the federal securities laws.

To join the Net 1 class action, visit the firm's website at http://rosenlegal.com, or call Phillip Kim, Esq. or Kevin Chan, toll-free, at 866-767-3653; you may also email at pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.

According to the suit, Net 1 issued materially false and misleading statements about the Company's true business and financial condition. In particular, Net 1 failed to disclose or misrepresented that the Company's practices to secure contracts in South Africa were in violation of the Foreign Corrupt Practices Act. The lawsuit asserts that this adverse information caused the price of Net 1's securities to fall—damaging investors.

If you wish to serve as lead plaintiff, you must move the Court no later than February 24, 2014. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com. You may also visit the firm's website at http://rosenlegal.com.

The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.

CONTACT: Laurence M. Rosen, Esq. Phillip Kim, Esq. Kevin Chan The Rosen Law Firm P.A. 275 Madison Avenue 34th Floor New York, New York 10016 Tel: (212) 686-1060 Toll Free: 1-866-767-3653 Fax: (212) 202-3827 lrosen@rosenlegal.com pkim@rosenlegal.com kchan@rosenlegal.com www.rosenlegal.comSource: The Rosen Law Firm PA PC