NEW ORLEANS, Jan. 04, 2019 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until January 14, 2019 to file lead plaintiff applications in a securities class action lawsuit against MoneyGram International Inc. (NasdaqGS: MGI), if they purchased the Company’s securities between February 11, 2014 and November 8, 2018, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of Illinois.
Get Help
MoneyGram investors should visit us at https://www.claimsfiler.com/cases/view-moneygram-international-inc-securities-litigation-3 or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
MoneyGram and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On November 8, 2018, the Federal Trade Commission announced that MoneyGram had agreed to pay a fine of $125 million for failing to fully implement effective anti-fraud measures to comply with prior agreements with the agency. Then, on November 9, 2018, MoneyGram disclosed a 15% decline in money transfer revenue in Q3 2018 compared to Q3 2017 based on “the impact of higher compliance standards and newly implemented corridor specific controls.”
On this news, the price of MoneyGram’s shares plummeted $2.20 per share or over 49%.
The case is Chew v. MoneyGram International, Inc. et al., No. 18-cv-07537.
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ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.
