Law Offices of Howard G. Smith announces an investigation on behalf of MoneyGram International, Inc. (MoneyGram or the Company) (NASDAQ: MGI) investors concerning the Company and its officers possible violations of federal securities laws.
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, MoneyGrams 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.
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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.