LOS ANGELES–(BUSINESS WIRE)–$MGTI #CLASSACTION—Glancy
Prongay & Murray LLP (“GPM”) announces that a class action
lawsuit has been filed on behalf of investors that purchased or
otherwise acquired MGT Capital Investments, Inc. (“MGT” or the
“Company”) (OTC: MGTI)
securities between October 9, 2015 to September 7, 2018, inclusive
(the “Class Period”). MGT investors have until November 27, 2018 to
file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to
On September 7, 2018, the U.S. Securities and Exchange Commission
(“SEC”) filed a lawsuit against MGT and certain defendants, alleging
that defendants were participants in “highly profitable ‘pump-and-dump’
schemes…from 2013 through 2018” in the stock of three public
companies, including MGT. The SEC complaint further alleges that the
schemes “enrich[ed] Defendants by millions of dollars, [and] left retail
investors holding virtually worthless shares.” On this news, shares of
MGT fell $0.195, or over 33%, to close at $0.395 per share on September
10, 2018, thereby damaging investors.
The complaint alleges MGT Capital Investments Inc. made materially false
and/or misleading statements and/or failed to disclose that: (1)
defendants were engaged in a pump-and-dump scheme to artificially
inflate MGT Capital’s stock price; (2) this illicit scheme caused MGT
Capital to make false and misleading statements, which would result in
governmental scrutiny, including from the SEC; (3) certain of the
defendants exercised control over MGT Capital and its management; (4)
consequently, the illicit scheme would ultimately cause MGT Capital’s
stock to become delisted from NYSE MKT; and (5) 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
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If you purchased shares of MGT during the Class Period you may move the
Court no later than November 27, 2018 to ask the Court to
appoint you as lead plaintiff. To be a member of the Class you need not
take any action at this time; you may retain counsel of your choice or
take no action and remain an absent member of the Class. If you wish
to learn more about this action, or if you have any questions concerning
this announcement or your rights or interests with respect to these
matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century
Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150,
Toll-Free at 888-773-9224, by email to email@example.com,
or visit our website at www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.