Bronstein, Gewirtz & Grossman, LLC Announces Investigation of
Net 1 UEPS Technologies Inc.
NEW YORK, Dec. 5, 2012 /PRNewswire/ -- Attorney
Advertising -- Bronstein, Gewirtz & Grossman, LLC is
investigating potential claims on behalf of purchasers of the
securities of Net 1 UEPS Technologies Inc. ("Net 1" or the
"Company") (NasdaqGS: UEPS), concerning potential violations of
federal securities laws.
On December 4, 2012, Shares of Net
1 fell 58% or $4.62 to close at 3.22
after the company announced that it received a letter from the US
Department of Justice, Criminal Division (the"DOJ") on November 30 informing the Company that the DOJ
and the FBI are investigating whether the company had made corrupt
payments to South African government officials to secure a contract
with the South African Social Security Agency ("SASSA"). The
alleged payments relate to securing a contract with SASSA to
provide social welfare and benefits payments. The agencies
will also investigate if Net 1 violated federal securities laws in
connection with statements made in its SEC filings regarding the
SASSA contract. The Company further disclosed that the SEC's
Division of Enforcement has advised Net 1 that it is also
conducting an investigation of the Company.
If you are aware of any facts relating to this investigation, or
purchased shares of UEPS, you can assist this investigation by
contacting either Peretz Bronstein
or Eitan Kimelman of Bronstein,
Gewirtz & Grossman, LLC at 212-697-6484 or via email
eitan@bgandg.com. Those who inquire by e-mail are encouraged to
include their mailing address and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation
boutique. Our primary expertise is the aggressive pursuit of
litigation claims on behalf of our clients. In addition to
representing institutions and other investor plaintiffs in class
action security litigation, the firm's expertise includes general
corporate and commercial litigation, as well as securities
arbitration.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman, 212-697-6484
eitan@bgandg.com
SOURCE Bronstein, Gewirtz & Grossman, LLC