Thieler Law Corp, member of the Investor Attorney Network, is investigating whether certain officers and directors of MoneyGram International Inc (NASDAQ: MGI) violated securities laws in connection with certain financial statements.
The investigation seeks to discover if possible claims on behalf of purchasers of the securities of MoneyGram International Inc (NASDAQ: MGI) concerning whether a series of statements by MoneyGram International Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On November 8, 2018, the Federal Trade Commission (“FTC”) revealed 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.
On November 9, 2018, the Company revealed a decrease in money transfer revenue due to the “impact of higher compliance standards and newly implemented corridor specific controls.”
Following this news, NASDAQ: MGI fell over 49% on November 9, 2018, harming investors.
Based in Dallas, Texas, and founded in 1940 MoneyGram International Inc provides money transfer services in the United States and internationally.
If you purchased shares of MoneyGram International Inc (NASDAQ: MGI) on or before November 8, 2018, you should contact Thieler Law Corp at mail@thielerlaw.com or call +1 (619) 377 - 4324.
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