2-Day Deadline Alert: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against MoneyGram International, Inc. and Encourages Investors with Losses in Excess of $500,000 to Contact the Firm
LOS ANGELES, CA / ACCESSWIRE / January 12, 2019 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against MoneyGram International, Inc. (''MoneyGram'' or ''the Company'') (NASDAQ: MGI) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's shares between February 11, 2014 and November 8, 2018, inclusive (the ''Class Period''), are encouraged to contact the firm before January 14, 2019.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. MoneyGram had knowledge of a high level of fraud involving the Company's money transfer system over a span of years. The Company failed to put appropriate anti-fraud measures in place, partially motivated by a desire to protect revenue growth. This activity resulted in scrutiny from the FTC and the DOJ, which both took action against MoneyGram. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about MoneyGram, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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SOURCE: The Schall Law Firm