Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Net 1 UEPS
NEW YORK, Dec. 18, 2012
NEW YORK, Dec. 18, 2012 /PRNewswire/ --Attorney Advertising -- Bronstein,
Gewirtz & Grossman, LLC is investigating potential claims on behalf of
purchasers of the securities of Net 1 UEPS Technologies Inc. ("Net 1" or the
"Company") (NasdaqGS: UEPS), concerning potential violations of federal
On December 4, 2012, Shares of Net 1 fell 58% or $4.62 to close at 3.22 after
the company announced that it received a letter from the US Department of
Justice, Criminal Division (the"DOJ") on November 30 informing the Company
that the DOJ and the FBI are investigating whether the company had made
corrupt payments to South African government officials to secure a contract
with the South African Social Security Agency ("SASSA"). The alleged payments
relate to securing a contract with SASSA to provide social welfare and
benefits payments. The DOJ and FBI are also investigating whether Net 1
engaged in violations of the federal securities laws in connection with
statements made by the Company in its SEC filings 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 are aware of any facts relating to this investigation, or purchased
shares of UEPS, you can assist this investigation by contacting either Peretz
Bronstein or Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at
212-697-6484 or via email email@example.com. Those who inquire by e-mail are
encouraged to include their mailing address and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our
primary expertise is the aggressive pursuit of litigation claims on behalf of
our clients. In addition to representing institutions and other investor
plaintiffs in class action security litigation, the firm's expertise includes
general corporate and commercial litigation, as well as securities
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman, 212-697-6484
SOURCE Bronstein, Gewirtz & Grossman, LLC
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