Lawsuit for Long-Term Investors in MoneyGram International, Inc. (NASDAQ: MGI) shares announced by Shareholders Foundation

SAN DIEGO, May 06, 2019 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit is pending by a current investor in shares of MoneyGram International, Inc. (NASDAQ: MGI) against MoneyGram International, Inc.

Investors, who purchased shares of MoneyGram International, Inc. (NASDAQ: MGI) certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff seeks to enforce the right to inspect certain corporate books and records of MoneyGram International. Among other things, the plaintiff seeks to inspect these documents to investigate mismanagement and possible breaches of fiduciary duty by the directors and officers of MoneyGram International, Inc. The plaintiff made a demand prior to the lawsuit but MoneyGram International, Inc refused the plaintiff’s demand.

The plaintiff alleges that despite the Board’s and senior management’s knowledge of rampant consumer fraud taking place using MoneyGram’s services, MoneyGram failed to implement adequate controls, failing to adhere to certain reporting requirements, and admittedly processing more than $125 million in fraudulent transfers between April 2015 and October 2016.

Investors, who purchased shares of MoneyGram International, Inc. (NASDAQ: MGI), have certain options and should contact the Shareholders Foundation.

CONTACT:
Shareholders Foundation, Inc. 
Michael Daniels 
+1 (858) 779-1554 
mail@shareholdersfoundation.com 
3111 Camino Del Rio North 
Suite 423 
San Diego, CA 92108

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.