San Diego, CA -- (SBWIRE) -- 02/07/2017 -- An investor, who purchased shares of The Western Union Company (NYSE:WU), filed a lawsuit in California over alleged violations of Federal Securities Laws by The Western Union Company in connection with certain allegedly false and misleading statements made between February 24, 2012 and January 19, 2017.

Investors who purchased shares of The Western Union Company (NYSE:WU) have certain options and for certain investors are short and strict deadlines running. Deadline: March 27, 2017. NYSE:WU investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

The plaintiff claims that the Defendants made false and/or misleading statements and/or failed to disclose that Western Union's fraud prevention efforts did not comply with applicable laws, that Western Union willfully failed to maintain an effective anti-money laundering program, that Western Union aided and abetted wire fraud, that for at least five years, Western Union knew of agents structuring transactions designed to avoid the reporting requirements of the Bank Secrecy Act, that Western Union was not compliant with its regulatory responsibilities, that between 2004 and 2012, Western Union violated U.S. laws—the Bank Secrecy Act and anti-fraud statutes—by processing hundreds of thousands of transactions for Western Union agents and others involved in an international consumer fraud scheme, that Western Union knew of but failed to take corrective action against Western Union agents involved in or facilitating fraud-related transactions, that between January 1, 2004 and August 29, 2015, Western Union received at least 550,928 complaints about fraud-induced money transfers, totaling at least $632,721,044, and that as a result, Defendants' public statements were materially false and misleading at all relevant times.

On January 19, 2017, the U.S. Department of Justice and the Federal Trade Commission announced that Western Union agreed to pay $586 million and admitted to "aiding and abetting wire fraud" by allowing scammers to process transactions even when the company realized its agents were disguising transactions to avoid detection.

Shares of The Western Union Company (NYSE:WU) closed on February 6, 2017, at $19.83 per share.

Those who purchased shares of The Western Union Company 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