OKLAHOMA CITY--(BUSINESS WIRE)--The law firm of Federman & Sherwood has initiated an investigation into MGT Capital Investments, Inc. (NYSE: MGT) with respect to possible violations of federal securities laws.
MGT Capital Investments, Inc. (“MGT”), together with its subsidiaries, acquires, develops and monetizes assets in the online, mobile and casino gaming space and is headquartered in Harrison, New York. Federman & Sherwood’s investigation focuses on disclosures made by MGT and whether certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On September 19, 2016, MGT announced that it had received a subpoena from the Securities and Exchange Commission "requesting certain information," and that, later the same day, MGT received a notification from the New York Stock Exchange that "it will not approve the listing on the Exchange of the 43.8 million shares that the Company is required to issue in order to complete the closing of the D-Vassive merger." On this news, MGT’s shares declined to close at $1.89 per share.
If you purchased MGT securities and have information to assist in our investigation, or have any questions or concerns regarding this notice or preservation of your rights, please contact our office. Federman & Sherwood has extensive nationwide experience in representing investors in securities, derivative and merger-related shareholder class actions, and has been appointed as lead counsel in multiple complex cases.