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.
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MoneyGram investors should visit us at https://www.claimsfiler.com/cases/view-moneyg...tigation-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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