NEW YORK, May 15, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Higher One Holdings, Inc. ("Higher One" or the "Company")(NYSE: ONE). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 237.
The investigation concerns whether Higher One and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On May 12, 2014, the Company filed a Form 10-Q with the Securities and Exchange Commission (SEC), announcing that it is facing penalties from the Federal Reserve over asserted violations of the Federal Trade Commission Act relating to marketing and disclosure practices related to the OneAccount option for financial aid refund. The Company noted in the filing that the penalties it faces have the potential to trigger a default on its credit facility.
On this news, shares of Higher One fell $1.26 per share to $3.81, or more than 24.85%, in after-hours trading on May 15, 2014.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP