Investor Alert: Kaplan Fox Announces Investigation Of MoneyGram International, Inc.

PRNewswire 9-Nov-2018 7:52 PM

NEW YORK, Nov. 9, 2018 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of MoneyGram International, Inc. ("MoneyGram" or the "Company") (NASDAQ:MGI) concerning potential securities law violations.  Investors who purchased MoneyGram securities may be affected.

On November 8, 2018, MoneyGram announced that it entered into agreements with the U.S. Department of Justice ("DOJ") and the Federal Trade Commission ("FTC") concerning accusations of fraudulent transactions by MoneyGram agents between April 2015 and October 2016.  MoneyGram has agreed to amend and extend its existing deferred prosecution agreement with the DOJ for 30 months and to a forfeiture penalty of $125 million.

On November 8, 2018, MoneyGram also reported its third quarter 2018 financial results, including a revenue decrease of 15% compared to the third quarter 2017.  Among other things, the Company stated that "enhanced compliance controls and introductory pricing reduced top-line growth in the quarter."

Following this news, the price of MoneyGram's common stock fell $2.20 per share, more than 49%, to close at $2.27 per share on November 9, 2018.   

If you are an investor in MoneyGram and would like to discuss our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling 800-290-1952.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.  If you have any questions about this Notice, the action, your rights, or your interests, please contact:

Jeffrey P. Campisi
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: jcampisi@kaplanfox.com

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California  94104
(415) 772-4700
Fax:  (415) 772-4707
E-mail: lking@kaplanfox.com

 

Cision View original content:http://www.prnewswire.com/news-releases/investor-alert-kaplan-fox-announces-investigation-of-moneygram-international-inc-300747818.html

SOURCE Kaplan Fox & Kilsheimer LLP

Wait, Before You Leave...