LOS ANGELES, Feb. 8, 2013 (GLOBE NEWSWIRE) -- Glancy Binkow & Goldberg LLP announces that it is continuing to investigate potential claims on behalf of purchasers of the securities of Net 1 UEPS Technologies, Inc. ("Net 1" or the "Company") concerning possible violations of federal securities laws and/or breaches of fiduciary duties by the Company or its fiduciaries. Net 1 provides payment solutions and transaction processing services for various industries in South Africa, Korea, Europe and internationally.
The investigation is related to the Company's December 4, 2012 disclosure of investigations by the U.S. Department of Justice, Criminal Division (the "DOJ"), and the Federal Bureau of Investigation of Net 1 and its subsidiaries, and whether certain of their employees, agents and other possibly affiliated persons and entities violated provisions of the Foreign Corrupt Practices Act and other U.S. federal criminal laws.
The DOJ and FBI investigations concern allegations that Net 1 and/or certain of its affiliates engaged in a scheme to make corrupt payments to officials of the South African Government to secure a contract with the South African Social Security Agency to provide social welfare and benefits payments. The DOJ and FBI investigations also concern whether Net 1 engaged in violations of the federal securities laws in connection with statements made by the Company in its SEC filings regarding this contract. The SEC's Division of Enforcement has advised Net 1 that it is also conducting an investigation of the Company.
If you purchased Net 1 shares and still hold those shares, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, by telephone at (310) 201-9150, Toll Free at (888) 773-9224, by e-mail to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com.
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Source:Glancy Binkow & Goldberg LLP