San Diego, CA -- (SBWIRE) -- 08/12/2015 -- The Shareholders Foundation announced that an investor, who purchased shares of Moneygram International Inc (NASDAQ:MGI), filed a lawsuit over alleged violations of Federal Securities Laws by Moneygram International Inc.

Investors who purchased shares of Moneygram International Inc (NASDAQ:MGI) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on behalf of purchasers of Moneygram International Inc (NASDAQ:MGI) pursuant and/or tracable to the secondary public offering on March 27, 2014, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that Moneygram International Inc violated federal securities laws by misleading investors regarding its critical partner's, Wal-Mart Stores, decision to introduce a competing money transfer and financial services provider in all of its current wire transfer locations across the United States.

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.

On August 10, 2015, 2014, NASDAQ:MGI shares closed at $9.99 per share.

Those who purchased shares of Moneygram International Inc (NASDAQ:MGI) 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