Levi & Korsinsky, LLP announces that a MGTI class action lawsuit has been filed on behalf of investors who purchased MGT Capital Investments Inc. (MGTI) securities between October 9, 2015 and September 7, 2018. For more on the MGTI Lawsuit please contact us today.
According to the MGT Capital Investments Inc. lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that:
(1) Defendants were engaged in an illegal pump-and-dump scheme to artificially inflate MGT Capital’s stock price; (2) the “Scheme Defendants”–Defendants Ladd, Honig, Stetson, Brauser, O’Rourke, and Groussman–had a history of engaging in illegal conduct in connection with the purchase and sale of securities; (3) the Scheme Defendants were a “group”, pursuant to Section 13 of the Exchange Act; (4) the Scheme Defendants exercised control over the Company; (5) the Company’s acquisition of D-Vasive Inc. was part of Defendants’ illegal pump-and-dump scheme to artificially inflate MGT Capital’s stock price; (6) Defendants’ illicit scheme caused MGT Capital to make false and misleading statements, which would result in governmental and regulatory scrutiny; (7) the scheme would result in the delisting of MGT Capital’s stock from NYSE MKT; and (8) as a result, Defendants’ statements about MGT Capital’s business and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you suffered a loss in MGT Capital Investments Inc. you have until November 27, 2018 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.