NEW YORK–(BUSINESS WIRE)–Rosen Law Firm, a global investor rights law firm, announces it is
investigating potential securities claims on behalf of shareholders of
MoneyGram International, Inc. (NASDAQ:MGI) resulting from allegations
that MoneyGram may have issued materially misleading business
information to the investing public.
On November 8, 2018, the Federal Trade Commission announced that
MoneyGram agreed to pay $125 million to settle allegations that the
company “failed to take steps required under a 2009 Federal Trade
Commission order to crack down on fraudulent money transfers[.]” The
$125 million payment would also resolve allegations that MoneyGram
violated a separate 2012 deferred prosecution agreement with the
Department of Justice.
Then, on November 9, 2018, MoneyGram reported a decrease in money
transfer revenue due to the “impact of higher compliance standards and
newly implemented corridor specific controls.” On this news, MoneyGram’s
stock price plummeted $2.20 per share or over 49% to close at $2.27 per
share on November 9, 2018.
Rosen Law Firm is preparing a class action lawsuit to recover losses
suffered by MoneyGram investors. If you purchased shares of MoneyGram
please visit the firm’s website at https://www.rosenlegal.com/cases-1449.html
to join the class action. You may also contact Phillip Kim or Zachary
Halper of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org
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Rosen Law Firm represents investors throughout the globe, concentrating
its practice in securities class actions and shareholder derivative
litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class
Action Services for number of securities class action settlements in
2017. The firm has been ranked in the top 3 each year since 2013.
Attorney Advertising. Prior results do not guarantee a similar outcome.
The Rosen Law Firm, P.A.
Laurence Rosen, Esq.
Phillip Kim, Esq.
275 Madison Avenue, 34th Floor
York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653