Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of MoneyGram International, Inc. (NASDAQ:MGI) resulting from allegations that MoneyGram may have issued materially misleading business information to the investing public.
On November 8, 2018, the Federal Trade Commission announced that MoneyGram agreed to pay $125 million to settle allegations that the company failed to take steps required under a 2009 Federal Trade Commission order to crack down on fraudulent money transfers[.] The $125 million payment would also resolve allegations that MoneyGram violated a separate 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 stock price plummeted $2.20 per share or over 49% to close at $2.27 per share on November 9, 2018.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by MoneyGram investors. If you purchased shares of MoneyGram please visit the firms website at https://www.rosenlegal.com/cases-1449.html to join the class action. You may also contact Phillip Kim or Zachary Halper of Rosen Law Firm toll free at 866-767-3653 or via email at [email protected] or [email protected].
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013.
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The Rosen Law Firm, P.A.
Laurence Rosen, Esq.
Phillip Kim, Esq.
275 Madison Avenue, 34th Floor
York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653