A lawsuit was filed on behalf of investors in Moneygram International Inc (NASDAQ:MGI) shares, who purchased NASDAQ:MGI shares in the MoneyGram’s April 2, 2014 secondary public offering and those NASDAQ:MGI investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/21/2016 -- An investor, who purchased shares of Moneygram International Inc (NASDAQ:MGI) in the April 2, 2014 secondary public offering, filed a lawsuit in Delaware against Moneygram International Inc (NASDAQ:MGI), its controlling shareholder, certain of its senior executives, principal shareholders, and the underwriters of MoneyGram's secondary public offering completed on or around April 2, 2014 over alleged violations of Federal Securities Laws.
Investors who purchased shares of Moneygram International Inc (NASDAQ:MGI) in MoneyGram's secondary public offering completed on or around April 2, 2014 have certain options and for certain investors are short and strict deadlines running. Deadline: November 14, 2016. NASDAQ:MGI investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The complaint alleges that MoneyGram, its controlling shareholder, certain of its officers and directors, and underwriters of the Offering, violated Sections 11, 12(a)(2), and 15 of the Securities Act of 1933 by making false and misleading statements and failing to disclose material adverse information in offering documents filed with the U.S. Securities and Exchange Commission regarding Walmart's possible entry into the money transfer business and the potential effect it would have on MoneyGram.
On April 17, 2014 during an analyst conference call, Moneygram International Inc disclosed the decision by Wal-Mart to introduce competing products across the U.S. Shares of Moneygram International Inc (NASDAQ:MGI) declined from $17.98 per share in April 16, 2014, to $12.59 per share on April 21, 2014.
Those who purchased shares of Moneygram International Inc in the April 2, 2014 secondary public offering have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com