STEVENSON, Md.--(BUSINESS WIRE)--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 firstname.lastname@example.org, 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.