NEW YORK--(BUSINESS WIRE)--The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of MoneyGram International Inc. (“MoneyGram”) (NASDAQGS: MGI) pursuant to the Company’s secondary offering completed on or around April 2, 2014.
You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the District of Delaware. If you purchased or otherwise acquired MoneyGram securities pursuant to the secondary offering your rights may be affected by this action. To get more information go to:
or contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
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.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.