Company name Green Dot Corporation (NYSE: GDOT)
Stock symbol GDOT
Status Under Investigation

NEW YORK, August 9, 2019 –  Bragar Eagel & Squire, P.C. is investigating potential claims against Green Dot Corporation (NYSE: GDOT) on behalf of Green Dot investors. Our investigation concerns whether Green Dot has violated the federal securities laws and/or engaged in other unlawful business practices.

On May 9, 2019, the company disappointed investors when it slashed its earnings guidance and announced it would be dramatically increasing spending on technology and marketing to attract new users.  This news caused a massive 26% drop in Green Dot’s share price.

Then, on August 8, 2019, Green Dot announced another guidance reduction due to a steep decline in its legacy prepaid card product line and the Company’s delay in launching its newest BaaS product.  This news caused Green Dot’s share price to plummet another 45%.

All told, the two drops have wiped out over $1.9 billion in market capitalization with Green Dot’s shares trading at less than one-third of its 52-week high, closing at $27.42 on August 9, 2019.

If you purchased or otherwise acquired Green Dot shares, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.

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The submission of this form does not create an attorney-client relationship, nor any obligation on the part of Bragar Eagel & Squire, P.C., or you to file a legal action. Any information you submit will be maintained as confidential. If Bragar Eagel & Squire, P.C., in its sole discretion, believes that you might be an appropriate class representative, Bragar Eagel & Squire, P.C., will contact you to discuss the matter and to determine whether to establish an attorney client relationship.

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