GPM Announces the Filing of a Securities Class Action on Behalf of MoneyGram International, Inc. Investors
July 30 2015 - 11:33AM
Business Wire
Glancy Prongay & Murray LLP (“GPM”) announces that a class
action has been filed on behalf of investors of MoneyGram
International Inc. (NASDAQ:MGI) (“MoneyGram” or “the Company”)
concerning the Company’s and its officers’ possible violations of
federal securities laws.
According to the lawsuit, the Company violated federal
securities laws by misleading investors regarding its critical
partner’s, Wal-Mart Stores, decision to introduce a competing money
transfer and financial services provider in all of its current wire
transfer locations across the United States. On April 17, 2014,
shortly after completing a secondary offering of MoneyGram shares,
MoneyGram disclosed for the first time the decision by Wal-Mart to
introduce competing products across the U.S., causing the value of
MoneyGram shares to decline in one day by almost 30% to close on
April 17, 2014 at $12.58 per share.
If you purchased shares of MoneyGram pursuant to the Company’s
Secondary Offering on or around March 27, 2014, have information or
would like to learn more about these claims, or have any questions
concerning this announcement or your rights or interests with
respect to these matters, please contact Casey Sadler, of Glancy
Prongay & Murray, 1925 Century Park East, Suite 2100, Los
Angeles, California 90067 at 310-201-9150, Toll-Free at
888-773-9224, by email to shareholders@glancylaw.com, or visit our
website at http://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.
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version on businesswire.com: http://www.businesswire.com/news/home/20150730006152/en/
Glancy Prongay & Murray, Los AngelesCasey Sadler,
310-201-9150 or
888-773-9224shareholders@glancylaw.comwww.glancylaw.com
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