NEW YORK, June 6, 2014 (GLOBE NEWSWIRE) -- The Rosen Law Firm announced today that a class action lawsuit has been filed on behalf of all purchasers of the securities of Higher One Holdings, Inc. (NYSE:ONE) during the period between August 7, 2012 and May 12, 2014, seeking to recover investors' losses.
To join the Higher One class action, visit the website at http://rosenlegal.com or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email email@example.com or firstname.lastname@example.org 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 lawsuit, Defendants throughout the Class Period misrepresented and/or failed to disclose that: (i) Higher One's marketing and disclosure practices were in violation of the Federal Trade Commission Act; (ii) Higher One's allegedly improper marketing and disclosure practices would expose itself to potential restitution demands and civil penalties; and (iii) the amounts of potential restitution demands and civil penalties could trigger a default under Higher One's credit facility.
On May 12, 2014, Higher One disclosed that it is facing penalties stemming from alleged violations in connection with its marketing of a debit account for financial aid refunds. The potential penalties could trigger a default under Higher One's credit facility. After this revelation, the price of Higher One shares declined $0.90 per share, or more than 14%, and closed at $5.51 per share on May 13, 2014 on unusually heavy volume.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 28, 2014. 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, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at email@example.com or firstname.lastname@example.org.
The Rosen Law Firm focuses on prosecuting securities class action litigation and actions involving financial fraud. The Rosen Law Firm represents investors throughout the globe. This notice may constitute attorney advertising.
CONTACT: Laurence Rosen, Esq. Phillip Kim, Esq. Kevin Chan, Esq. 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 email@example.com firstname.lastname@example.org email@example.com www.rosenlegal.comSource: The Rosen Law Firm PA PC