Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against MoneyGram International, Inc. (MGI)

NEW YORK, March 3, 2021 (GLOBE NEWSWIRE) – Gainey McKenna & Egleston announces that a class action lawsuit has been filed against MoneyGram International, Inc. (“MoneyGram”) (NASDAQ: MGI) in the US District Court on behalf of Central District of California those who purchased or acquired the securities of MoneyGram between June 17, 2019 and February 22, 2021 inclusive (the “Class Period”). The lawsuit aims to seek compensation for investors in accordance with federal securities laws.

The complaint alleges that defendants have provided false and / or misleading information and / or failed to disclose that: (1) XRP, the cryptocurrency MoneyGram used as part of its Ripple partnership, as unregistered by the SEC and therefore considered unlawful security ;; (2) Should the SEC decide to enforce securities laws against Ripple, MoneyGram would likely lose the lucrative stream of market development fees that was critical to financial results throughout the class period. and (3) as a result, Defendants’ public statements at all relevant times were materially false and / or misleading. When the real details hit the market, the lawsuit alleged that investors suffered damage.

Investors who have purchased or otherwise acquired stock of MoneyGram during the class period should contact the company before April 30, 2021 Deadline for the main plaintiff’s motion. A lead plaintiff is a representative party who acts on behalf of other class members in directing the dispute. If you would like to discuss your rights or interests in relation to this class action lawsuit, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. from Gainey McKenna & Egleston at (212) 983-1300 or by email at tjmckenna@gme-law.com or Gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the company.

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