Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Net 1 UEPS Technologies Inc.

Feb 04, 2013, 08:30 ET from Bronstein, Gewirtz & Grossman, LLC

NEW YORK, Feb. 4, 2013 /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 securities laws.

The investigation is focused on the Company's December 4, 2012 disclosure 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 Net 1, 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  Those who inquire by e-mail are encouraged to include their mailing address and telephone number. 

The firm is also investigating actions on behalf of shareholders for the following companies: Spirit AeroSystems Holdings Inc. (NYSE: SPR); Universal Technical Institute, Inc. (NYSE: UTI), Commonwealth Bankshares, Inc. (OTC: CWBS).  If you are a shareholder of any of the above companies and wish to learn more about any of the investigations or have any questions, please contact us at the number or email listed below.

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 arbitration.  Attorney advertising.  Prior results do not guarantee similar outcomes.

Contact: Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Eitan Kimelman, 212-697-6484

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