SOURCE: Kahn Swick & Foti, LLC

Kahn Swick & Foti

September 23, 2016 22:07 ET

MONEYGRAM SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC REMINDS Purchasers in the April 2, 2014 Secondary Offering of Lead Plaintiff Deadline in Class Action Lawsuit Against MoneyGram International Inc. - MGI

NEW ORLEANS, LA--(Marketwired - September 23, 2016) - Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until November 14, 2016 to file lead plaintiff applications in a securities class action lawsuit against MoneyGram International Inc. (NASDAQ: MGI), if they purchased the Company's securities pursuant and/or traceable to the secondary public offering completed on or around April 2, 2014 (the "Offering"). This action is pending in the United States District Court for the District of Delaware.

What You May Do

If you purchased shares 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, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by November 14, 2016.

About the Lawsuit

MoneyGram and certain of its executives and principle shareholders are charged with failing to disclose material information in connection with the Offering, violating federal securities laws.

The Company allegedly made false and misleading statements and omissions regarding Walmart's possible entry into the money transfer business and the potential effect it would have on MoneyGram.

On April 17, 2014, just over two weeks after the Offering closed, Walmart announced that it would launch its own money transfer product on April 24, 2014.

Following this news, MoneyGram's stock price plummeted by almost 30%.

About Kahn Swick & Foti, LLC

KSF, whose partners include the 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.

Contact Information

  • Contact:
    Kahn Swick & Foti, LLC
    Lewis Kahn
    Managing Partner
    lewis.kahn@ksfcounsel.com
    1-877-515-1850
    206 Covington St.
    Madisonville, LA 70447