Robbins Umeda LLP Announces an Investigation of Green Dot Corporation for Shareholders
Robbins Umeda LLP, a shareholder rights litigation firm, has commenced an investigation into possible breaches of fiduciary duty and other violations of the law by certain officers and directors at Green Dot Corporation (NYSE: GDOT). Green Dot offers general purpose reloadable prepaid debit cards and cash loading and transfer services. The company was founded in 1999 and is headquartered in Monrovia, California.
Robbins Umeda LLP’s investigation focuses on whether the directors and officers of Green Dot harmed the company by breaching their fiduciary duties to shareholders by causing or permitting the company to engage in deceptive and unfair consumer practices. On May 19, 2011, the Florida Attorney General announced an investigation of Green Dot for failing to disclose certain prepaid debit card fees to consumers. The announcement stated that in certain instances, every transaction a consumer makes using a prepaid debit card may be subject to a hidden fee.
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