All Persons Or Entities Who Purchased The Securities Of Higher One Holdings, Inc. ("Higher One") Between August 7, 2012 Through August 6, 2014, Both Dates Inclusive, This Is A Notice Of Penedency And Proposed Settlement Of A Class Action.

SEATTLE, March 26, 2018 /PRNewswire/ --JND Class Action Administration

UNITED STATES DISTRICT COURT
DISTRICT OF CONNECTICUT

TO:    ALL PERSONS OR ENTITIES WHO PURCHASED THE SECURITIES OF HIGHER ONE HOLDINGS, INC. ("HIGHER ONE") BETWEEN AUGUST 7, 2012 THROUGH AUGUST 6, 2014, BOTH DATES INCLUSIVE.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the District of Connecticut, that a hearing will be held on July 10, 2018, at 10:00 a.m. before the Honorable Alvin W. Thompson, United States District Judge of District of Connecticut at the Abraham Ribicoff Federal Building, 450 Main Street, South Courtroom, Hartford, Connecticut 06103 for the purpose of determining: (1) whether the proposed Settlement  of the claims in the above-captioned Action for consideration including the sum of seven million five hundred thousand dollars ($7,500,000.00) should be approved by the Court as fair, reasonable, and adequate; (2) whether the Plan of Allocation is fair and reasonable, and should be approved; (3) whether Lead Counsel's application for an award of attorneys' fees of up to 30% plus interest of the Settlement Amount, reimbursement of out-of-pocket expenses of not more than seventy-five thousand dollars ($75,000.00), and a compensatory award for Plaintiffs of not more than three thousand dollars ($3,000.00), in aggregate, or one thousand five hundred dollars ($1,500.00) each to Plaintiffs, all to be paid from the Settlement Fund, should be approved; and (4) whether this Action should be dismissed with prejudice against the Settling Defendants, Defendant Christopher Wolf ("Wolf"), and former Defendant Patrick McFadden ("McFadden") as set forth in the Stipulation of Settlement dated February 6, 2018 (the "Stipulation") filed with the Court.

You are receiving this Notice because the Court has certified a class of investors for settlement purposes only ("Settlement Class") and you may be a member of the certified class ("Settlement Class Member"). The proposed Settlement Class will consist of all persons or entities who purchased Higher One Holdings, Inc. ("Higher One") securities between August 7, 2012 through August 6, 2014, both dates inclusive (the "Settlement Class Period"). Excluded from the Settlement Class are the Settling Defendants, Defendant Wolf, and former Defendant McFadden, members of their immediate families, any officer or director of Higher One during the Settlement Class Period, and any entity in which any Settling Defendant, Defendant Wolf, or Defendant McFadden have a controlling interest, and the successors, heirs, and assigns of any excluded persons and entities referenced above.

If you purchased Higher One stock during the Settlement Class Period, your rights may be affected by this Action and the Settlement thereof, including the release and extinguishment of claims you may possess relating to your ownership interest in Higher One securities. If you have not received a detailed Notice of Proposed Settlement of Class Action, Motion for Attorneys' Fees and Expenses, and Settlement Fairness Hearing ("Notice") and a copy of the Proof of Claim and Release Form, you may obtain copies by contacting the Claims Administrator at:

Perez v. Higher One Holdings, Inc.
c/o JND Legal Administration
P.O. Box 91346
Seattle, WA  98111

This case has been litigated since May 27, 2014. Plaintiffs allege, that in violation of the U.S. federal securities laws, Higher One's stock price was inflated during the Settlement Class Period. Plaintiffs allege, among other things, that the Defendants made false and/or misleading statements and/or omissions during the Settlement Class Period regarding Higher One's marketing and disclosure practices, compliance with the Federal Trade Commission Act, and compliance with a previously-issued consent order and settlement obligations.  Plaintiffs further allege that partial disclosures and events revealed Defendants' fraud, thereby injuring Plaintiffs and the Settlement Class of investors. Defendants deny these allegations. The Settlement will resolve the lawsuit and claims as to the Settling Defendants and the Released Parties. Plaintiffs and the Settlement Class are represented by Lead Counsel who may be reached by contacting: Matthew L. Tuccillo, Pomerantz LLP, 600 Third Avenue, 20^th Floor, New York, NY 10016 (212) 661-1100.

If you are a Settlement Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release Form postmarked no later than May 26, 2018, establishing that you are entitled to recovery. Unless you submit a written exclusion request, you will be bound by any Judgment rendered in the Action whether or not you make a claim.

If you want to be excluded from the Settlement Class, you must submit to the Claims Administrator a request for exclusion, in accordance with the procedures set forth in the Notice, so that it is postmarked no later than June 19, 2018. If you decide to exclude yourself from the Settlement Class, and wish to file your own individual lawsuit, Defendants may argue that you face a time bar under applicable statutes of limitation or repose, risks that you should discuss with an appropriate legal advisor.  All members of the Settlement Class who have not requested exclusion from the Settlement Class will be bound by any Judgment entered in the Action pursuant to the Settlement Stipulation.

If you are a Settlement Class Member and do not exclude yourself, you can object to the Settlement, Plan of Allocation, or Lead Counsel's request for an award of attorneys' fees and reimbursement of expenses and compensatory award to Plaintiffs in the manner and form explained in the detailed Notice and received no later than June 19, 2018.

Any questions regarding the Settlement should be directed to Lead Counsel for the Settlement Class.

PLEASE DO NOT CONTACT THE COURT, THE CLERK'S OFFICE, THE DEFENDANTS, OR DEFENDANTS' COUNSEL REGARDING THIS NOTICE.

SOURCE JND Class Action Administration