San Diego, CA -- (ReleaseWire) -- 05/20/2014 -- An investigation on behalf of investors of Higher One Holdings, Inc (NYSE:ONE) shares over potential securities laws violations by Higher One Holdings and certain of its directors and officers in connection certain financial statements was announced.
Investors who purchased shares of Higher One Holdings, Inc (NYSE:ONE) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Higher One Holdings, Inc (NYSE:ONE) concerning whether a series of statements by Higher One Holdings regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Higher One Holdings, Inc reported that its annual Total Revenue rose from $197.72 million in 2012 to $211.12 million in 2013 while its Net Income declined from $36.87 million in 2012 ro $14.13 million in 2013. Shares of Higher One Holdings, Inc (NYSE:ONE) declined from as high as $17.96 per share in March 2013 to $5.80 on May 6, 2014.
Then on May 12, 2014, Higher One Holdings, Inc disclosed 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.
Shares of Higher One Holdings, Inc declined from $6.41 per share on May 12, 2014, to $3.63 per share on May 15, 2014.
Those who purchased shares of Higher One Holdings, Inc (NYSE:ONE), have certain options and should contact the Shareholders Foundation.
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