Glancy Prongay & Murray LLP Announces Investigation on Behalf of MoneyGram International, Inc. Investors (MGI)
LOS ANGELES--(BUSINESS WIRE)--Nov 13, 2018--Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of MoneyGram International, Inc. investors (“MoneyGram” or the “Company”) (NASDAQ: MGI ) concerning the Company and its officers’ possible violations of federal securities laws.
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On November 8, 2018, the Federal Trade Commission (“FTC”) announced that MoneyGram agreed to pay $125 million to settle allegations that the company “failed to take steps required under a 2009 [FTC] order to crack down on fraudulent money transfers” and allegations that the company violated a 2012 deferred prosecution agreement with the Department of Justice.
Then, on November 9, 2018, MoneyGram reported a decrease in money transfer revenue due to the “impact of higher compliance standards and newly implemented corridor specific controls.”
On this news, MoneyGram’s share price fell $2.20 per share, or over 49%, to close at $2.27 per share on November 9, 2018, on unusually heavy trading volume.
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If you purchased MoneyGram securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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View source version on businesswire.com:https://www.businesswire.com/news/home/20181113006134/en/
CONTACT: Glancy Prongay and Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Glancy Prongay & Murray LLP
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PUB: 11/13/2018 06:00 PM/DISC: 11/13/2018 06:01 PM