RM LAW Announces Investigation of MoneyGram International, Inc.

BERWYN, Pa., Nov. 13, 2018 /PRNewswire/ -- RM LAW, P.C. announces an investigation on behalf of MoneyGram International, Inc. (NASDAQ: MGI) ("MoneyGram" or the "Company") investors concerning the Company and its officers' possible violations of federal securities laws.

If you purchased shares of MoneyGram and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.

On November 8, 2018, MoneyGram announced that it entered into agreements with the U.S. Department of Justice ("DOJ") and the Federal Trade Commission ("FTC") 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."

Following this news, the price of MoneyGram's common stock fell $2.20 per share, more than 49%, to close at $2.27 per share on November 9, 2018.  

For more information regarding this, please contact RM LAW, P.C.  (Richard A. Maniskas, Esquire) toll-free at (844) 291-9299 or by email at rm@maniskas.com or click here.   For more information about class action cases in general or to learn more about RM LAW, P.C. please visit our website by clicking here. 

RM LAW, P.C. is a national shareholder litigation firm.  RM LAW, P.C. is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.

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SOURCE RM LAW, P.C.