Green Dot Corporation's Buyout by CommerceOne and Smith Ventures: Investigation into Potential Breach of Fiduciary Duties

Green Dot Corporation is being investigated by Scott+Scott Attorneys at Law LLP for potential breaches of fiduciary duty by its board of directors in approving a buyout by CommerceOne Financial Corporation and Smith Ventures for inadequate consideration. The investigation aims to determine if Green Dot's shareholders have suffered damages as a result. Existing shareholders will receive $8.11 in cash and 0.2215 shares in the newly formed bank holding company per share.