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Global Cash Access Settles $6M Shareholder Lawsuit

By Sarah Pierce

One of the gaming industry’s leading providers of ATMs and other cash access solutions has agreed to settle a class action lawsuit that accuses the company of misleading investors. Global Cash Access Holdings, Inc. (GCAH) has agreed to a $5.875 settlement to dismiss claims that it violated federal securities laws. If you purchased or acquired GCAH common stock from September 22, 2005 through November 14, 2007, you may be entitled to part of the settlement if it’s approved.

According to the Settlement Notice, class members are estimated to recover $0.083 per eligible share of GCAH common stock. The amount, of course, will depend on a variety of factors, including how many class members submit valid claims, the prices and dates of your stock purchases, and the number of shares you purchased.

The deadline to file a claim is July 24, 2010. If you want to exclude yourself, the deadline is June 4. 2010. For more information and to file an electronic claim form, visit www.gcasecuritiessettlement.com.

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Updated April 24th, 2010

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