Update: Lawsuit for Investors in shares of MoneyGram International, Inc. (NASDAQ: MGI) announced by Shareholders Foundation

SAN DIEGO, CA, February 12, 2019 (Newswire.com) - The Shareholders Foundation, Inc. announces that a lawsuit is pending for investors in shares of MoneyGram International, Inc. (NASDAQ: MGI).

Investors, who purchased shares of MoneyGram International, Inc. (NASDAQ: MGI), have certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 - 1554.

The plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose that MoneyGram was aware for years of high levels of fraud involving its money transfer system, that MoneyGram failed to implement appropriate anti-fraud countermeasures, in part, because doing so would adversely impact its revenue, that this misconduct would draw scrutiny from the FTC, which had an agreed-upon order requiring MoneyGram to implement a comprehensive anti-fraud program, that this misconduct would draw scrutiny from the Department of Justice, which entered into a Deferred Prosecution Agreement concerning MoneyGram's anti-fraud and anti-money laundering programs, and that as a result, defendants' statements about MoneyGram's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased MoneyGram International, Inc. (NASDAQ: MGI) shares should contact the Shareholders Foundation, Inc.

CONTACT:

Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
[email protected]
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.

SOURCE: Shareholders Foundation, Inc.

Source: Shareholders Foundation, Inc.