NEW ORLEANS, Oct. 7, 2016 /PRNewswire/ -- Kahn Swick
& Foti, LLC ("KSF") and KSF partner, the former Attorney
General of Louisiana, Charles C. Foti, Jr., remind investors that they
have until November 14, 2016
to file lead plaintiff applications in a securities class action
lawsuit against MoneyGram International Inc. (NasdaqGS: MGI), if
they purchased the Company's securities pursuant and/or traceable
to the secondary public offering completed on or around
April 2, 2014 (the "Offering").
This action is pending in the United States District Court
for the District of Delaware.
What You May Do
If you purchased shares 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, call toll-free at 1-877-515-1850 or email KSF Managing
Partner Lewis Kahn (lewis.kahn@ksfcounsel.com). If you wish to
serve as a lead plaintiff in this class action, you must petition
the Court by November 14,
2016.
About the Lawsuit
MoneyGram and certain of its executives and principle
shareholders are charged with failing to disclose material
information in connection with the Offering, violating federal
securities laws.
The Company allegedly made false and misleading statements and
omissions regarding Walmart's possible entry into the money
transfer business and the potential effect it would have on
MoneyGram.
On April 17, 2014, just over two
weeks after the Offering closed, Walmart announced that it would
launch its own money transfer product on April 24, 2014.
Following this news, MoneyGram's stock price plummeted by almost
30%.
About Kahn Swick & Foti, LLC
KSF, whose partners include the 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.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
206 Covington St.
Madisonville, LA 70447
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SOURCE Kahn Swick & Foti, LLC