MONEYGRAM SHAREHOLDER ALERT by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Reminds Purchasers in the April 2, 2...
October 21 2016 - 10:07PM
Business Wire
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20161021005023/en/
Kahn Swick & Foti, LLCLewis Kahn, 1-877-515-1850Managing
Partnerlewis.kahn@ksfcounsel.com
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