MoneyGram

 

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.

 

 

 

 

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Updated April 9th, 2010

 

All class action and lawsuit news updates are listed in the Lawsuit News section of Top Class Actions

 

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5 Comments

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