| Company: | Higher One Holdings |
| Ticker Symbol: | ONE |
| Class Period: | Aug-7-12 to May-12-14 |
| Date Filed: | Jun-9-14 |
| Lead Plaintiff Deadline: | Aug-8-14 |
| Court: | District of Connecticut |
| Allegations: | |
The Complaint alleges that 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 it 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.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
