LOS ANGELES–(BUSINESS WIRE)–$MGI #ClassAction—The
Schall Law Firm, a national shareholder rights litigation firm,
announces that it is investigating claims on behalf of investors of
MoneyGram International, Inc. (“MoneyGram” or “the Company”) (NASDAQ:MGI)
for violations of §§10(b) and 20(a) of the Securities Exchange Act of
1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and
The investigation focuses on whether the Company issued false and/or
misleading statements and/or failed to disclose information pertinent to
investors. The FTC announced on November 8, 2019, that MoneyGram agreed
to pay $125 million to settle allegations brought against the Company
that it “failed to take steps required under a 2009 Federal Trade
Commission order to crack down on fraudulent money transfers.” The
payment would also settle allegations that the Company violated a 2012
deferred prosecution agreement with the DOJ. Following that news,
MoneyGram reported a decrease in money transfer revenue the next day.
The Company blamed the “impact of higher compliance standards and newly
implemented corridor specific controls,” for the decrease. Based on this
news, shares of MoneyGram fell more than 49% on November 9, 2018.
If you are a shareholder who suffered a loss, click
here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of
the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA
90067, at 424-303-1964, to discuss your rights free of charge. You can
also reach us through the firm’s website at www.schallfirm.com,
or by email at email@example.com.
The class in this case has not yet been certified, and until
certification occurs, you are not represented by an attorney. If you
choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and
specializes in securities class action lawsuits and shareholder rights
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and rules of ethics.