NEW YORK, March 03, 2021 (GLOBE NEWSWIRE) — Wolf Haldenstein Adler Freeman & Herz LLP broadcasts a federal securities class motion lawsuit has been filed towards MoneyGram Worldwide, Inc. (“MoneyGram”) (NASDAQ: MGI) in america District Court docket for the Central District of California on behalf of those that bought or acquired the securities of MoneyGram between June 17, 2019 and February 22, 2021, inclusive (the “Class Interval”).
All buyers who bought shares of MoneyGram and incurred losses are urged to contact the agency instantly at firstname.lastname@example.org or (800) 575-0735 or (212) 545-4774. You could receive further info in regards to the motion or join the case on our web site, www.whafh.com.
When you have incurred losses within the shares of MoneyGram, you could, no later than April 30, 2021, request that the Court docket appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to be taught extra about your rights as an investor within the shares of MoneyGram Worldwide, Inc.
The filed Grievance alleges that Defendants made false and/or deceptive statements and/or did not disclose that:
- XRP, the cryptocurrency that MoneyGram was using as a part of its Ripple partnership, was considered as an unregistered and due to this fact illegal safety by the SEC;
- within the occasion that the SEC determined to implement the securities legal guidelines towards Ripple, MoneyGram could be more likely to lose the profitable stream of market improvement charges that was essential to its monetary outcomes all through the Class Interval; and
- consequently, Defendants’ public statements have been materially false and/or deceptive in any respect related occasions.
On February 22, 2021, MoneyGram filed its annual report on Type 10-Okay for the 12 months ended December 31, 2020, disclosing to shareholders that it was “potential that MoneyGram is not going to resume transacting with Ripple beneath the industrial settlement and will likely be unable to obtain the associated market improvement charges in 2021 and past.”
On this information, MoneyGram securities fell 33.2%, from a closing value on February 19, 2021 of $10.87, to a closing value on February 23, 2021 of $7.26 per share.
Wolf Haldenstein has intensive expertise within the prosecution of securities class actions and spinoff litigation in state and federal trial and appellate courts throughout the nation. The agency has attorneys in varied apply areas; and places of work in New York, Chicago and San Diego. The repute and experience of this agency in shareholder and different class litigation has been repeatedly acknowledged by the courts, which have appointed it to main positions in complicated securities multi-district and consolidated litigation.
In the event you want to focus on this motion or have any questions concerning your rights and pursuits on this case, please instantly contact Wolf Haldenstein by phone at (800) 575-0735, by way of e-mail at email@example.com, or go to our web site at www.whafh.com.
Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Monetary Evaluation
E-mail: firstname.lastname@example.org, email@example.com or firstname.lastname@example.org
Tel: (800) 575-0735 or (212) 545-4774
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