Higher One Holdings at center of class action lawsuit

A law firm recently filed a securities class action lawsuit against a payment processing company due to potential federal securities law violations.

Law office Pomerantz, LLP, noted that the litigation was filed in the U.S. District Court for the District of Connecticut against Higher One Holdings, Inc. This includes all shareholders who acquired interests in the company during the class period between Aug. 7, 2012, and May 12, 2014.

The lawsuit alleges that the company's leaders violated the Securities Exchange Act of 1934, specifically Sections 10(b), 20(a) and Rule 10b-5. Leaders at Higher One Holdings may have made a number of statements that were either false or misleading regarding the performance of the company, as well as its operations and prospects.

It is an option for shareholders to apply for the lead plaintiff position in the case, and all necessary paperwork needs to be filed with the court by July 28, 2014. The applicant will need to be approved by the court, though applying is not mandatory for shareholders who would rather remain absent class members and collect in any event of financial return.

For those who are interested in learning more about the lawsuit, how it may affect their rights or interests and other related information, it is an option to speak with the law office. The best person to speak with is Robert Willoughby, and he can be reached by telephone or email. Any shareholders who make contact by email should also list their mailing address, phone number and the number of shares that they own.

Separate investigation underway
Another law office noted that it would investigate Higher One Holdings for many of the same reasons. Like the aforementioned litigation, this also may develop into a class action lawsuit.

Law firm Bronstein, Gewirtz and Grossman, LLC, noted that it would look into the allegations against the leaders at Higher One Holdings,

It is possible for any shareholders who are looking to learn more about the investigation to speak with the law office, while those who may have anything to contribute to the investigation are also encouraged to come forward. It is best to speak with either Peretz Bronstein or Eitan Kimelman, who can be reached by telephone or email. Those shareholders who send an email should leave their phone number and mailing address.