MONEYGRAM 72 HOUR DEADLINE ALERT: Approximately 72 Hours Remain; Former Louisiana Attorney General and Kahn Swick & Foti, LLC Remind Investors with Losses in Excess of $100,000 of Deadline in Class Action Lawsuit Against MoneyGram

Business Wire 11-Jan-2019 10:50 PM

Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors with large financial interests that they have only until January 14, 2019 to file lead plaintiff applications in a securities class action lawsuit against MoneyGram International Inc. (NASDAQ:MGI). Investor losses must relate to purchases of the Company's securities between February 11, 2014 and November 8, 2018. This action is pending in the United States District Court for the Northern District of Illinois.

What You May Do

If you purchased securities of MoneyGram and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-mgi/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by January 14, 2019.

About the Lawsuit

On November 8, 2018, the FTC announced that MoneyGram had agreed to pay $125 million for failing to comply with prior agreements to implement effective anti-fraud measures. On November 9, 2018, MoneyGram disclosed a 15% decline in Q3 2018 money transfer revenue compared to Q3 2017 based on "the impact of higher compliance standards and newly implemented corridor specific controls."

On this news, the price of MoneyGram's shares plummeted.

The case is Chew v. MoneyGram International, Inc., No. 18-cv-07537.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.

To learn more about KSF, you may visit www.ksfcounsel.com.

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