Sarraf Gentile LLP Announces Class Action Filed Against Meta Financial Group, Inc.

NEW YORK, NY--(Marketwire - Oct 27, 2010) - A class action lawsuit has been filed in the United States District Court for the Northern District of Iowa against Meta Financial Group, Inc. (NASDAQ: CASH). The action is brought on behalf of all people who purchased Meta common stock between May 14, 2009 and October 12, 2010, inclusive.

The action alleges that Meta and certain of its officers made materially false and misleading statements in violation of the federal securities laws. In particular, the action alleges that on October 12, 2010, Meta disclosed that the Office of Thrift Supervision had determined that Meta had engaged in "unfair or deceptive acts or practices in violation of Section 5 of the Federal Trade Commission Act and the OTS Advertising Regulation in connection with the Bank's operation of the iAdvance program."

No class has yet been certified in the action. Until a class is certified, you are not represented by counsel unless you retain one. Sarraf Gentile LLP has not filed a lawsuit against the defendants.

If you are a Meta shareholder and want to discuss your legal rights, at no cost and without obligation, please contact Joseph Gentile at Sarraf Gentile LLP (telephone: 212-868-3610; e-mail: joseph@sarrafgentile.com).

Sarraf Gentile LLP has extensive experience litigating shareholder actions across the United States and has recovered millions of dollars on behalf of injured shareholders.

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