NEW YORK, Sept. 19. 2016 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a securities class action has been filed in the United States District Court for the District of Delaware on behalf of those who purchased shares of MoneyGram International Inc. ("MoneyGram" or the "Company") (NASDAQ: MGI) pursuant and/or traceable to the secondary public offering completed on or around April 2, 2014 (the "Offering").
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the "Exchange Act").
The Complaint alleges that MoneyGram allegedly made false and misleading statements and omissions regarding Walmart's possible entry into the money transfer business and the likely effect it would have on the Company. On April 17, 2014, two weeks after the Offering, Walmart publicized that it was initiating its own money transfer service on April 24, 2014. Following this news, MoneyGram's stock dropped close to 30%.
No Class has yet been certified in the above action. To discuss this action, or for any questions, please visit the firm's site: http://www.bgandg.com/mgi. or contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email [email protected]. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. If you suffered a loss in MoneyGram, you have until November 14, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
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