Ryan & Maniskas, LLP Announces Investigation of Net 1 Ueps Technologies Inc.

  Ryan & Maniskas, LLP Announces Investigation of Net 1 Ueps Technologies Inc.

Business Wire

WAYNE, Pa. -- December 07, 2012

Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/ueps) has commenced an
investigation into potential securities law violations by certain officers of
Net 1 Ueps Technologies Inc. (“Net 1” or the “Company”) (NASDAQ: UEPS). The
investigation focuses on allegations that certain statements issued by the
Company regarding the Company’s business, operations and financial condition
were false and misleading.

Net 1 shareholders should contact Richard A. Maniskas, Esquire at 877-316-3218
or at rmaniskas@rmclasslaw.com to learn more about this investigation.

On December 4, 2012, Net 1 announced that on November 30, 2012, it received a
letter from the U.S. Department of Justice, Criminal Division, informing Net 1
that the Department of Justice and the Federal Bureau of Investigation have
begun an investigation into whether Net 1 and its subsidiaries, including
their officers, directors, employees, and agents, 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 in connection with securing a contract with the South African Social
Security Agency to provide social welfare and benefits payments. The
investigation also looked into whether Net 1 engaged in violations of the
federal securities laws in connection with statements made by Net 1 in its
Securities and Exchange Commission filings regarding that contract. In
addition, Net 1 announced that on November 30, 2012, it also received a letter
from the Division of Enforcement of the Securities and Exchange Commission
advising Net 1 that it is also conducting an investigation of Net 1. On this
news, shares of Net 1 dropped 58% down to a December 4, 2012 closing price of
3.22 per share.

If you purchased Net 1 shares and would like to learn more about these claims
or if you wish to discuss these matters and have any questions concerning this
announcement or your rights, contact Richard A. Maniskas, Esquire toll-free:
(877) 316-3218 or visit: www.rmclasslaw.com/cases/ueps. You may also email Mr.
Maniskas at rmaniskas@rmclasslaw.com. For more information about class action
cases in general, please visit our website: www.rmclasslaw.com.

Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan &
Maniskas, LLP is devoted to protecting the interests of individual and
institutional investors in shareholder actions in state and federal courts
nationwide.

Contact:

Ryan & Maniskas, LLP
Richard A. Maniskas, Esquire
877-316-3218
rmaniskas@rmclasslaw.com
www.rmclasslaw.com/cases/ueps
 
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