Brower Piven, A Professional Corporation announces that a class action
lawsuit has been commenced in the United States District Court for the
District of Colorado on behalf of purchasers of The Western Union
Company (“Western Union” or the “Company”) (NYSE: WU) common stock
during the period between February 7, 2012 and October 30, 2012,
inclusive (the “Class Period”).
If you have suffered a net loss from investment in The Western Union
Company common stock purchased on or after February 7, 2012, and held
through the revelations of negative information on October 30, 2012, as
described below, at no cost to you, you may obtain additional
information about this lawsuit and your ability to become a lead
plaintiff by contacting Brower Piven at www.browerpiven.com,
by email at hoffman@browerpiven.com,
by calling 410/415-6616, or at Brower Piven, A Professional Corporation,
1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower
Piven have combined experience litigating securities and class action
cases of over 60 years.
No class has yet been certified in the above action. Members of the
Class will be represented by the lead plaintiff and counsel chosen by
the lead plaintiff. If you wish to choose counsel to represent you and
the Class, you must apply to be appointed lead plaintiff no later than
February 10, 2014 and be selected by the Court. The lead plaintiff will
direct the litigation and participate in important decisions including
whether to accept a settlement and how much of a settlement to accept
for the Class in the action. The lead plaintiff will be selected from
among applicants claiming the largest loss from investment in the
Company during the Class Period.
The complaint accuses the defendants of violations of the Securities
Exchange Act of 1934 by virtue of the defendants’ failure to disclose
during the Class Period that Western Union was experiencing difficulties
meeting the increased compliance duties required by, and spending
significantly more than forecast to comply with, its Southwest Border
Agreement with the state of Arizona and that the Company’s ability to
charge a premium for its core money transfer product was under
competitive pricing pressure. According to the complaint, following the
Company’s October 30, 2012 disclosure of disappointing third quarter
2012 financial results, which the Company largely attributed to the
implementation of new system requirements necessary to comply with the
Southwest Border Agreement, the value of Western Union shares declined
significantly.
If you choose to retain counsel, you may retain Brower Piven without
financial obligation or cost to you, or you may retain other counsel of
your choice. You need take no action at this time to be a member of the
class.
Copyright Business Wire 2014