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Moneygram International Inc (NASDAQ:MGI) Investor Securities Class Action Lawsuit 05/19/2015

  • If you purchased shares of Moneygram International Inc (NASDAQ:MGI) you have certain options and you should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Moneygram International Inc
Security
NASDAQ: MGI

Case Name
MoneyGram International Shareholder Class Action Lawsuit 05/19/2015
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the District of Delaware

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Summary

July 27, 2015 (Shareholders Foundation) - An investor in shares of Moneygram International Inc (NASDAQ:MGI) filed a lawsuit in the U.S. District Court for the District of Delaware over alleged violations of Federal Securities Laws by Moneygram International Inc in connection with certain allegedly false and misleading statements.
According to the complaint the plaintiff alleges on behalf of purchasers of Moneygram International Inc (NASDAQ:MGI) pursuant and/or tracable to the secondary public offering on March 27, 2014, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that Moneygram International Inc violated federal securities laws by misleading investors regarding its critical partner’s, Wal-Mart Stores, decision to introduce a competing money transfer and financial services provider in all of its current wire transfer locations across the United States.

On April 17, 2014 during an analyst conference call, Moneygram International Inc disclosed the decision by Wal-Mart to introduce competing products across the U.S. Shares of Moneygram International Inc (NASDAQ:MGI) declined from $17.98 per share in April 16, 2014, to $12.59 per share on April 21, 2014.