San Diego, CA -- (SBWIRE) -- 12/10/2013 -- An investigation on behalf of investors of Net 1 UEPS Technologies Inc (NASDAQ:UEPS) shares over potential securities laws violations by Net 1 UEPS Technologies Inc and certain of its directors and officers in connection certain financial statements was announced.

If you purchased shares of Net 1 UEPS Technologies Inc (NASDAQ:UEPS), you have certain options and you should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Net 1 UEPS Technologies Inc (NASDAQ:UEPS) concerning whether a series of statements by Net 1 UEPS Technologies Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Net 1 UEPS Technologies Inc reported that its Total Revenue rose from $343.42 million for the 12 months period that ended on June 30, 2011 to $452.15 million for the 12 months period that ended on June 30, 2013, and that its respective Net Income increased from $2.65 million to $12.98 million.

Shares of Net 1 UEPS Technologies Inc grew from $5.00 per share in late 2012 to as high as $12.70 per share in August 2013.

Then on December 2, 2013, Net 1 UEPS Technologies Inc announced that the South African Constitutional Court ruled that the tender process followed by the South African Social Security Agency in awarding a contract to Net 1 UEPS Technologies’ wholly owned subsidiary Cash Paymaster Services (Proprietary) Limited was constitutionally invalid.

NASDAQ:UEPS shares declined from $11.53 per share on November 27, 2013, to $7.84 per share on December 9, 2013.

Those who purchased shares of Net 1 UEPS Technologies Inc (NASDAQ:UEPS), have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Jacob Rosenfeld
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com