GPM Announces the Filing of a Securities Class Action on Behalf of MoneyGram International, Inc. Investors

LOS ANGELES--(BUSINESS WIRE)-- Glancy Prongay & Murray LLP (“GPM”) announces that a class action has been filed on behalf of investors of MoneyGram International Inc. (NASDAQ:MGI) (“MoneyGram” or “the Company”) concerning the Company’s and its officers’ possible violations of federal securities laws.

According to the lawsuit, the Company violated federal securities laws by misleading investors regarding its critical partner’s, Wal-Mart Stores, decision to introduce a competing money transfer and financial services provider in all of its current wire transfer locations across the United States. On April 17, 2014, shortly after completing a secondary offering of MoneyGram shares, MoneyGram disclosed for the first time the decision by Wal-Mart to introduce competing products across the U.S., causing the value of MoneyGram shares to decline in one day by almost 30% to close on April 17, 2014 at $12.58 per share.

If you purchased shares of MoneyGram pursuant to the Company’s Secondary Offering on or around March 27, 2014, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Casey Sadler, of Glancy Prongay & Murray, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: http://www.businesswire.com/news/home/20150730006152/en/

Glancy Prongay & Murray, Los Angeles
Casey Sadler, 310-201-9150 or 888-773-9224
[email protected]
www.glancylaw.com

Source: Glancy Prongay & Murray LLP

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