Thieler Law Corp advises investors with losses exceeding $100,000 of the February 17, 2020 lead plaintiff deadline in a class action lawsuit filed against Green Dot Corporation (NYSE: GDOT) (“Green Dot” or “the Company”). The suit is pending in the U.S. District Court for the Central District of California and investors, who purchased Green Dot Corporation securities between May 9, 2018 and November 7, 2019, have until February 17, 2020 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased Green Dot Corporation securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that Green Dot’s strategy to attract “high-value” long-term customers was at the expense of “one and done” customers; Green Dot’s “one and done” customers represented a significant source of revenues in its legacy segment; consequently, Green Dot’s strategy was self-sabotaging; and as a result of the foregoing, defendants’ statements about its business and operations were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

on August 7, 2019, the Company reported an "accelerated loss of unit sales in [its] prepaid product lines, resulting in lower active accounts from both non-reloading customers and cash reloading customers.

Following this news, Green Dot’s share price fell $19.84 per share, or nearly 41%, to close at $27.42 per share on August 8, 2019.

On November 7, 2019, the Company revealed a decline of 620,000 accounts in its active consumer business, mostly "one-time use accounts."

On this news, Green Dot’s share price fell $5.41 per share, or nearly 18%, to close at $24.54 per share on November 8, 2019.

If you were negatively impacted by your investment in Green Dot Corporation securities between May 9, 2018 and November 7, 2019 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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