BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of investors of MoneyGram International Inc. (NASDAQ: MGI) (“MoneyGram” or “the Company”) concerning the Company’s and its officers’ possible violations of federal securities laws.
The investigation concerns whether the Company violated federal securities laws by misleading investors regarding its critical partner’s, Wal-Mart Stores, decision to introduce a competing money transfer and financial services provider in all of its current wire transfer locations across the United States. On April 17, 2014, shortly after completing a secondary offering of MoneyGram shares, MoneyGram disclosed for the first time the decision by Wal-Mart to introduce competing products across the U.S., causing the value of MoneyGram shares to decline in one day by almost 30% to close on April 17, 2014 at $12.58 per share.
If you purchased shares of MoneyGram, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.