Binkow & Goldberg LLP announces that all purchasers of the
securities of Net1
UEPS Technologies, Inc. ("Net1" or the "Company") (NASDAQ:UEPS)
between August 27, 2009 and November 27, 2013, inclusive (the "Class
Period"), have until February 24, 2014, to file a motion to be appointed
as lead plaintiff in the shareholder lawsuit filed in the United States
District Court for the Southern District of New York.
A COPY OF THE COMPLAINT
IS AVAILABLE FROM THE COURT OR FROM GLANCY BINKOW & GOLDBERG LLP. PLEASE
CONTACT US AT (212) 682-5340, TOLL-FREE AT (888) 773-9224, OR AT SHAREHOLDERS@GLANCYLAW.COM
TO DISCUSS THIS MATTER OR OTHER POTENTIAL CLAIMS IF YOU PURCHASED NET1
STOCK PRIOR TO THE CLASS PERIOD. IF YOU INQUIRE BY EMAIL PLEASE INCLUDE
YOUR MAILING ADDRESS, TELEPHONE NMBER AND NUMBER OF SHARES PURCHASED.
Net1 provides payment solutions and transaction processing services for
various industries in South Africa, Korea, Europe and internationally.
The Complaint alleges that throughout the Class Period the Company and
certain of its executive officers issued materially false and misleading
statements concerning the Company's business and operations.
Specifically, the Complaint alleges that the defendants misrepresented
or failed to disclose that the Company's practices to secure contracts
in South Africa were in violation of the Foreign Corrupt Practices Act
and, as a result, that the Company's financial statements were
materially false and misleading at all relevant times.
On December 4, 2012, Net1 disclosed that the U.S. Department of Justice,
Criminal Division, and the Federal Bureau of Investigation had begun an
investigation into whether Net1 and its subsidiaries, including certain
of their employees and agents and other possibly affiliated persons and
entities, violated provisions of the Foreign Corrupt Practices Act and
other U.S. federal criminal laws by engaging in a scheme to make corrupt
payments to officials of the Government of South Africa. Then, on
November 29, 2013, Net1 disclosed that the Constitutional Court of South
Africa ruled that the tender process followed by the South African
Social Security Agency in awarding a contract to Net1's wholly owned
subsidiary Cash Paymaster Services (Proprietary) Limited was
If you are a member of the Class described above, you may move the Court
no later than February 24, 2014, to serve as lead plaintiff; however,
you must meet certain legal requirements. If you wish to learn more
about this action, or if you still hold shares of Net1 purchased prior
to August 27, 2009, and have any questions concerning this announcement
or your rights or interests with respect to these matters, please
Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century
Park East, Suite 2100, Los Angeles, California 90067, Toll-Free at (888)
773-9224, or contact Gregory
Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd
Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by
e-mail to firstname.lastname@example.org,
or visit our website at http://www.glancylaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
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