This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Kahn Swick & Foti, LLC Law Firm Files Securities Fraud Class Action in Iowa Against Meta Financial Group, Inc. - Stock Drops Over 50% Due To Alleged Fraud - CASH

Kahn Swick & Foti, LLC (“KSF”) and KSF partner Former Attorney General of Louisiana, Charles C. Foti, Esq. announce the commencement of the firm’s securities fraud class action lawsuit against Meta Financial Group, Inc. (“Meta Financial” or the “Company”) (Nasdaq: CASH). The lawsuit was filed today in the United States District Court for the Northern District of Iowa on behalf of purchasers of the common stock of the Company between May 14, 2009 and October 12, 2010, inclusive (the "Class Period"). No class has yet been certified in this action.

What You May Do

If you are a Meta Financial shareholder and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, e-mail or call KSF Director of Client Relations, Neil Rothstein, Esq. (, toll free at 877-694-9510, or via cell phone any time at 330-860-4092, or KSF Managing Partner, Lewis Kahn (, toll free 1-866-467-1400, ext. 200, or via cell phone any time at 504-301-7900. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by December 21, 2010. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. KSF encourages both institutional and individual purchasers of Meta Financial to contact the firm. The ultimate resolution of any securities class action is strengthened through the involvement of aggrieved shareholders and lead plaintiffs who have large financial interests.

About the Lawsuit

Meta Financial and certain of its Officers are charged with making a series of materially false and misleading statements related to the Company’s business and operations in violation of the Securities Exchange Act of 1934. In particular, the Complaint alleges that On October 12, 2010, Meta Financial filed a report with the Securities Exchange Commission (the “SEC”) announcing that the Office of Thrift Supervision (“OTS”) had advised the Company, as early as October 6, that it has determined that Meta Financial had engaged in “unfair or deceptive acts or practices in violation of Section 5 of the Federal Trade Commission Act and the OTS Advertising Regulation in connection with the Bank’s operation of the iAdvance program, and required the Bank to discontinue all iAdvance line of credit origination activity by October 13, 2010.”

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,790.19 +13.76 0.08%
S&P 500 1,979.92 -7.13 -0.36%
NASDAQ 4,748.3610 -32.9030 -0.69%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs