Levi & Korsinsky announces the commencement of a class action lawsuit in the USDC for the District of Delaware on behalf of shareholders of MoneyGram International, Inc. (NASDAQGS: MGI) who purchased shares pursuant to the Company’s secondary offering completed on or around April 2, 2014.
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose material adverse information in the Company’s offering documents regarding Walmart’s possible entry into the money transfer business and the potential effect it would have on MoneyGram. The true state of Walmart’s entry into the money transfer business was revealed on April 17, 2014, just over two weeks after the Offering closed, when Walmart announced that it would launch its own money transfer product beginning on April 24, 2014. In response to this news, MoneyGram’s stock price fell by nearly 30 percent.
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.
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