NEW ORLEANS–(BUSINESS WIRE)–$MGI #MGI–Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General
of Louisiana, Charles C. Foti, Jr., remind 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.
What You May Do
If you purchased securities of MoneyGram and would like to discuss your
legal rights and how this case might affect you and your right to
recover for your economic loss, you may, without obligation or cost to
you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850
or via email (lewis.kahn@ksfcounsel.com),
or visit https://www.ksfcounsel.com/cases/nasdaqgs-mgi/
to learn more. If you wish to serve as a lead plaintiff in this class
action, you must petition the Court by January 14, 2019.
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 a fine of $125 million for failing to implement
effective anti-fraud measures to comply with prior agreements. Then, on
November 9, 2018, MoneyGram disclosed a 15% decline in Q3 2018 money
transfer revenue 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.
The case is Chew v. MoneyGram International, Inc. et al., No.
18-cv-07537.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C.
Foti, Jr., is a law firm focused on securities, antitrust and consumer
class actions, along with merger & acquisition and breach of fiduciary
litigation against publicly traded companies on behalf of shareholders.
The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contacts
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
