SAN DIEGO, May 09, 2024 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announced an update in the lawsuit that is pending for certain investors in Green Dot Corporation (NYSE: GDOT) shares.

Investors, who purchased Green Dot Corporation (NYSE: GDOT) shares prior to 2020 and continue to hold any of those NYSE: GDOT shares, have also certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On December 19, 2019, a lawsuit was filed by an investor in Green Dot Corporation (NYSE: GDOT shares against Green Dot Corporation (NYSE: GDOT. over alleged securities laws violations. The plaintiff alleged that Green Dot made false and/or misleading statements and/or failed to disclose that Green Dot's strategy to attract "high-value" long-term customers was at the expense of "one and done" customers, that Green Dot's "one and done" customers represented a significant source of revenues in its legacy segment, that consequently, Green Dot's strategy was self-sabotaging, and that as a result of the foregoing, Defendants' statements about its business and operations.

On April 1, 2022, an amended complaint was filed and on June 21, 2022, the defendants filed a motion to dismiss the amended complaint.

Then on March 29, 2024, the Court issued an Order denying Defendants' Motion to Dismiss.

Those who purchased Green Dot Corporation (NYSE: GDOT) shares should contact the Shareholders Foundation, Inc.

CONTACT:
Shareholders Foundation, Inc. 
Michael Daniels 
+1 (858) 779-1554 
mail@shareholdersfoundation.com 
3111 Camino Del Rio North 
Suite 423 
San Diego, CA 92108

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.

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