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|MoneyGram Settles Shareholder Class Action Suit|
- Friday, 09 April 2010 13:38
MoneyGram Settles Shareholder Class Action Suit
By Sarah Pierce
MoneyGram International, Inc. has agreed to settle a class action lawsuit that alleges the payment services company violated federal securities laws and issued false or misleading statements to shareholders. If you held MoneyGram stock between January 24, 2007 and March 25, 2008, you may be eligible to claim part of the $80 million settlement.
According to the class action lawsuit, MoneyGram misrepresented and omitted the company’s financial condition and prospects, causing the price of MoneyGram stock to be artificially inflated during the class period. MoneyGram denies any wrongdoing but has agreed to settle. Shareholders who experienced a net loss of shares during this period could be able to claim up to an estimated $1.33 per share.
A fairness hearing will be held June 18, 2010. The deadline to file a claim is July 22, 2010. For more information and to download a claim form, visit www.mgisettlement.com.
Updated April 9th, 2010
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