An investigation on behalf of current long term investors in MoneyGram International, Inc. (NASDAQ: MGI) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 03/15/2019 -- Certain directors of MoneyGram International, Inc. are under investigation concerning potential breaches of fiduciary duties.
Investors who are current long term investors in MoneyGram International, Inc. (NASDAQ: MGI) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NASDAQ: MGI stocks follows a lawsuit filed against MoneyGram International, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: MGI stocks, concerns whether certain MoneyGram International, Inc. directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose that MoneyGram was aware for years of high levels of fraud involving its money transfer system, that MoneyGram failed to implement appropriate anti-fraud countermeasures, in part, because doing so would adversely impact its revenue, that this misconduct would draw scrutiny from the FTC, which had an agreed-upon order requiring MoneyGram to implement a comprehensive anti-fraud program, that this misconduct would draw scrutiny from the Department of Justice, which entered into a Deferred Prosecution Agreement concerning MoneyGram's anti-fraud and anti-money laundering programs, and that as a result, defendants' statements about MoneyGram's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Those who purchased shares of MoneyGram International, Inc. (NASDAQ: MGI) have certain options and should contact the Shareholders Foundation.
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