WESTON, FL--(Marketwired - Dec 13, 2016) - Monaker Group (the "Company") (OTCQB: MKGI), a travel and technology Company focused on the alternative lodging rental (ALR) market, today responded to a report that a class action has been filed in the United States District Court for the Southern District of Florida against Monaker Group alleging violations of federal securities laws Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is April 6, 2012 through June 23, 2016. "The action claims that Monaker supported RealBiz Media Group, to the detriment of Monaker's shareholders, without fully disclosing the support provided to RealBiz Media Group. Monaker Group believes that this action is without merit and intends to vigorously defend the action."
Monaker Group is atechnology driven Travel Company with multiple divisions and brands, leveraging more than 65 years of operation in leisure travel. Monaker's flagship is NextTrip.com, the industry's first booking engine featuring alternative lodging (vacation home rentals, resort residences and unused timeshares) as well as a vast array of airlines, hotels, cruises, rental cars, tours and concierge services all combined in one platform giving customers the power of choice when booking their vacations. The NextTrip site is powered by Monaker's booking engine utilizing rich content, imagery and high-quality video to maximize the traveler's experience and assist them in the search, decision and purchasing process of alternative lodging. By combining key features and functionality with advanced proprietary and licensed technology, NextTrip is able to present comprehensive vacation alternatives at best pricing. With key partnerships and established travel brands used as cornerstones, the Company's mission is to continue to expand offerings to become the "one stop" vacation center. Headquartered in South Florida, the Company employs a dedicated team of travel and technology professionals. For more information visit the company's website at www.monakergroup.com
Safe Harbor Statement
This press release contains forward-looking statements that involve risks and uncertainties concerning the plans and expectations of Monaker Group. These statements are only predictions and actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties, some of which are out of our control. The potential risks and uncertainties include, among others, or the expectations of future growth may not be realized. These forward-looking statements are made only as of the date hereof, and Monaker Group undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. All forward looking statements are expressly qualified in their entirety by the "Risk Factors" and other cautionary statements included in Monaker Group's annual, quarterly and special reports, proxy statements and other public filings with the Securities and Exchange Commission ("SEC"), including, but not limited to, the Company's Annual Report on Form 10-K for the period ended February 29, 2016 which has been filed with the SEC and is available at the SEC's website at www.sec.gov.