UPDATE
We have renewed our investigation into the fairness of the proposed sale of Green Dot Corporation (NYSE: GDOT) (“Green Dot”) in a complex 2-step transaction pursuant to which (i) CommerceOne Bank (“CommerceOne”) will acquire Green Dot for $8.11 per share in cash and 0.2215 shares of a new publicly traded bank holding company combining Green Dot’s and CommerceOne’s banking businesses, and (ii) the new bank holding company will simultaneously sell Green Dot’s fintech and embedded finance business to Smith Ventures LLC for $690 million in cash.
Wohl & Fruchter renewed its investigation of the proposed sale after reviewing the definitive proxy filed by Green Dot with the SEC on May 8, 2026, soliciting Green Dot stockholders to approve the proposed sale at a vote presently scheduled for June 23, 2026.
If you remain a Green Dot shareholder and question the fairness of the proposed sale, you may contact our firm to discuss your legal rights at no charge by completing and submitting the form below.
ORIGINAL ANNOUNCEMENT
We are investigating the fairness of the proposed sale of Green Dot Corporation (NYSE: GDOT) (“Green Dot”) in a complex transaction with Smith Ventures and CommerceOne Bank (“CommerceOne”) under which Green Dot stockholders will receive $8.11 per share in cash and 0.2215 shares of a new publicly traded bank holding company that will own CommerceOne’s and Green Dot’s existing banking businesses. Smith Ventures will acquire and privatize Green Dot’s non-bank financial technology business assets and operations, which will continue running as an independent fintech and embedded finance company.
On a conference call on November 24, 2025, after the deal was announced, Green Dot’s CFO estimated that Green Dot shareholders are receiving value of approximately $14.23-$19.18 per share.
Investors have recently criticized the price. If you remain a Green Dot shareholder and have concerns about the fairness of the proposed merger, you may contact our firm to discuss your legal rights at no charge by completing and submitting the form below.