BENSALEM, Pa., Jan. 30, 2014 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith announces that investors of Western Union Company ("Western Union" or the "Company") (NYSE:WU) have until February 10, 2014, to move the Court to serve as lead plaintiff in the securities fraud class action lawsuit filed in the United States District Court for the District of Colorado on behalf of a class (the "Class") comprising all persons who purchased Western Union securities between February 7, 2012 and October 30, 2012, inclusive (the "Class Period"). Please contact Law Offices of Howard G. Smith to discuss this matter or other potential claims if you purchased Western Union stock prior to February 7, 2012.
Western Union provides money movement and payment services worldwide. The Complaint alleges that during the Class Period the defendants misrepresented or failed to disclose that:
- Western Union was experiencing difficulties complying with its increased compliance duties required by its Southwest Border Agreement with the state of Arizona, which was to crack down on illegal money laundering practices between the states along the U.S.-Mexico border.
- The Company was spending significantly more than forecast on its Southwest Border Agreement compliance and monitoring program.
- The Company had downplayed the impact that changes in its compliance and regulatory environment were having on its operations, including its operations in Mexico and Latin America.
- Western Union was under competitive pricing pressure to charge a premium for its core money transfer product.
If you are a member of the Class described above, you have certain rights and have until February 10, 2014, to move for lead plaintiff status. To be a member of the Class you need not take any action at this time or may retain counsel of your choice. If you wish to learn more concerning your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.