| Company: | Meta Financial Group |
| Ticker Symbol: | CASH |
| Class Period: | May-14-09 to Oct-15-10 |
| Date Filed: | Nov-9-10 |
| Lead Plaintiff Deadline: | Jan-8-11 |
| Court: | Northern District of Iowa |
| Allegations: | |
The Complaint charges Meta Financial and certain of its officers and directors with violations of federal securities laws. Specifically, the Complaint alleges that defendants failed to disclose that the Company had engaged in unfair or deceptive practices in violation of Federal Trade Commission ("FTC") and Office of Thrift Supervision ("OTS") laws and regulations in connection with the Company's operation of its highly profitable iAdvance program.
On October 12, 2010, Meta Financial reported that it had received a Supervisory Directive issued by the OTS concerning its iAdvance program claiming the Company had engaged in unfair acts in violation of FTC and OTS laws and regulations. Furthermore, the Company had to seek written approval from the OTS prior to entering into any new third-party agreements. On October 18, 2010, Meta Financial announced that OTS had denied a request for prior approval to enter into a new third-party agreement and said it would not allow new agreements in the foreseeable future.
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.
