Law Offices of Todd M. Garber Announces Investigation of Net 1 UEPS
LOS ANGELES -- December 18, 2012
The Law Offices of Todd M. Garber announces that it is investigating potential
claims against Net 1 UEPS Technologies, Inc. (“Net 1” or the “Company”)
(NASDAQ:UEPS) concerning possible violations of federal securities laws and/or
breaches of fiduciary duties by the Company or its fiduciaries.
Net 1 provides payment solutions and transaction processing services for
various industries in South Africa, Korea, Europe and internationally.
Specifically, the investigation is related to the Company’s December 4, 2012
disclosure that the U.S. Department of Justice, Criminal Division (the “DOJ”),
and the Federal Bureau of Investigation have begun investigations into whether
Net 1 and its subsidiaries 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. The
alleged payments relate to securing a contract with the South African Social
Security Agency to provide social welfare and benefits payments.
In addition, the DOJ and FBI are also investigating whether Net 1 engaged in
violations of U.S. federal securities laws in connection with statements made
by the Company in its filings with the Securities and Exchange Commission
(“SEC”) regarding this contract. The Company further disclosed that the SEC’s
Division of Enforcement has advised Net 1 that it is also conducting an
investigation of the Company.
If you purchased Net 1 shares and still hold those shares, if you have
information or would like to learn more about these claims, or if you wish to
discuss these matters or have any questions concerning this announcement or
your rights or interests with respect to these matters, please contact Todd M.
Garber, Esquire, of the Law Offices of Todd M. Garber, by telephone at
213-700-7262 or by email to email@example.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Law Offices of Todd M. Garber
Todd M. Garber, Attorney at Law
Los Angeles, California
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