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Class Action News

Levi & Korsinsky Announces MoneyGram Lawsuit; MGI Class Action

Levi & Korsinsky

November 27, 2018

NEW YORK, November 27, 2018 – Levi & Korsinsky, LLP announces the commencement of a class action on behalf of MoneyGram International, Inc. (“MoneyGram”) (NASDAQGS: MGI) shareholders who purchased shares between February 11, 2014 and November 8, 2018. You are hereby notified that the MGI class action lawsuit has been commenced in the United States District Court for the Northern District of Illinois. To get more information about the MoneyGram lawsuit, go to: https://www.zlk.com/pslra-1/moneygram-international-inc-loss-form-2 or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The MGI lawsuit alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) MoneyGram was aware for years of high levels of fraud involving its money transfer system; (2) MoneyGram failed to implement appropriate anti-fraud countermeasures, in part, because doing so would adversely impact its revenue; (3) this misconduct would draw scrutiny from the FTC, which had an agreed-upon order requiring MoneyGram to implement a comprehensive anti-fraud program; (4) this misconduct would draw scrutiny from the Department of Justice, which entered into a Deferred Prosecution Agreement concerning MoneyGram’s anti-fraud and anti-money laundering programs; and (5) as a result, defendants’ statements about MoneyGram’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

If you suffered a loss in MoneyGram you have until January 14, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

 

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

55 Broadway, 10th Floor

New York, NY 10006

Tel: (212) 363-7500

Toll Free: (877) 363-5972

Fax: (212) 363-7171

www.zlk.com