NEW YORK, Nov. 13, 2018 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. is investigating potential claims against MoneyGram International, Inc. (NASDAQ: MGI). Our investigation concerns whether MoneyGram has violated the federal securities laws and/or engaged in other unlawful business practices.
On November 8, 2018, MoneyGram announced that it entered into agreements with the U.S. Department of Justice (“DOJ”) and the Federal Trade Commission 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.”
On this news, the price of MoneyGram shares fell more than 49%, closing at $2.27 per share on November 9, 2018.
If you purchased or otherwise acquired MoneyGram shares and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning our investigation into MoneyGram please go to http://www.bespc.com/mgi/. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com