Meta Financial Group Faces Securities Class Action

Law360, New York (October 25, 2010, 12:38 PM EDT) -- An investor has hit Meta Financial Group Inc. with a putative class action accusing the company and its officers of artificially pumping up Meta stock through improper conduct involving a short-term loan product.

The complaint, filed Friday in the U.S. District Court for the Northern District of Iowa, claims Meta made false and misleading statements about its financial health that were blown apart by a U.S. Office of Thrift Supervision determination that the company engaged in unfair or deceptive practices in connection with its iAdvance loan...
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