A lawsuit was filed on behalf of investors in MGT Capital Investments Inc. (NYSEMKT:MGT) shares over alleged securities laws violations and NYSEMKT:MGT investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/26/2016 -- An investor, who purchased shares of MGT Capital Investments Inc. (NYSEMKT:MGT), filed a lawsuit in New York over alleged Securities Laws violations by MGT Capital Investments Inc..
Investors who purchased shares of MGT Capital Investments Inc. (NYSEMKT:MGT) have certain options and for certain investors are short and strict deadlines running. Deadline: November 21, 2016. NYSEMKT:MGT investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The plaintiff claims that between May 9, 2016 and September 20, 2016 the Defendants made allegedly false and/or misleading statements and/or failed to disclose that MGT Capital Investments Inc. was engaging and/or had engaged in conduct that would result in an SEC investigation, that the SEC investigation and the underlying conduct would cause the NYSE to refuse to list the Company's 43.8 million shares required for the D-Vasive merger, that, as such, the D-Vasive merger would likely not be completed, and that, as a result of the foregoing, Defendants' statements about MGT's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On September 19, 2016, MGT Capital Investments Inc announced that on September 15, 2016 it received a subpoena from the Securities and Exchange Commission ("SEC") requesting certain information from MGT Capital Investments Inc.
Later the same day, MGT Capital Investments Inc received a notification from the NYSE that "it will not approve the listing on the Exchange of the 43.8 million shares that the Company is required to issue in order to complete the closing of the D-Vassive merger." Shares of MGT Capital Investments Inc. (NYSEMKT:MGT) declined from $4.07 per share on September 7, 2016 to as low as $1.78 per share on September 20, 2016.
Those who purchased shares of MGT Capital Investments Inc. 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