MONEYGRAM SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against MoneyGram International Inc. - MGI
NEW ORLEANS, Nov. 23, 2018 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until January 14, 2019 to file lead plaintiff applications in a securities class action lawsuit against MoneyGram International Inc. (NasdaqGS: MGI), if they purchased the Company's securities between February 11, 2014 and November 8, 2018, inclusive (the "Class Period"). This action is pending in the United States District Court for the Northern District of Illinois.
What You May Do
If you purchased securities of MoneyGram and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-mgi/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by January 14, 2019.
About the Lawsuit
MoneyGram and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On November 8, 2018, the Federal Trade Commission announced that MoneyGram had agreed to pay a fine of $125 million for failing to fully implement effective anti-fraud measures to comply with prior agreements with the agency. Then, on November 9, 2018, MoneyGram disclosed a 15% decline in money transfer revenue in Q3 2018 compared to Q3 2017 based on "the impact of higher compliance standards and newly implemented corridor specific controls."
On this news, the price of MoneyGram's shares plummeted $2.20 per share or over 49%.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850
1100 Poydras St., Suite 3200
New Orleans, LA 70163
SOURCE Kahn Swick & Foti, LLC
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