NEW YORK, Nov. 14, 2018 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Northern District of Illinois on behalf of all persons or entities who purchased or otherwise acquired MoneyGram International, Inc. (NASDAQ: MGI) securities between February 11, 2014 and November 8, 2018 (the “Class Period”). Investors have until January 14, 2019 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The complaint alleges that throughout the class period defendants made materially false and misleading statements, and failed to disclose to investors that: (i) MoneyGram was aware for years of high levels of fraud involving its money transfer system; (ii) MoneyGram failed to implement appropriate anti-fraud countermeasures, in part, because doing so would adversely impact its revenue; and (iii) this misconduct would draw scrutiny from the FTC, which had an agreed-upon order requiring MoneyGram to implement a comprehensive anti-fraud program.
If you purchased MoneyGram securities during the Class Period or continue to hold shares purchased before the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the MoneyGram lawsuit, please go to https://bespc.com/mgi-2/. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com