Kessler Topaz Meltzer & Check, LLP: Investor Class Action Filed Against MoneyGram International, Inc. for Securities Fraud Violations

Notice is hereby given that a class action lawsuit has been filed on behalf of those who purchased or otherwise acquired MoneyGram International, Inc. (“MoneyGram”) (Nasdaq: MGI) securities from February 11, 2014 through November 8, 2018, both dates inclusive (the “Class Period”).

MoneyGram investors may receive additional information about the case by clicking the link "Submit Your Information" above.

According to the complaint, MoneyGram, together with its subsidiaries, provides money transfer services in the United States and internationally.

The Class Period commences on February 11, 2014, when MoneyGram issued a press release reporting its financial results for its fourth quarter and year ended December 31, 2013. The press release stated that MoneyGram would continue to implement anti-fraud programs to comply with legal and regulatory requirements.

According to the complaint, on November 8, 2018, shortly before the market closed, the Federal Trade Commission (“FTC”) issued a press release entitled, “MoneyGram Agrees to Pay $125 Million to Settle Allegations that [MoneyGram] Violated the FTC’s 2009 Order and Breached a 2012 DOJ Deferred Prosecution Agreement.” 

Then, on November 9, 2018, MoneyGram reported its third quarter 2018 earnings, stating that “[m]oney transfer revenue” decreased “15% on a reported basis . . . as compared to third quarter 2017” due to “the impact of higher compliance standards and newly implemented corridor specific controls.”

Following this news, shares of MoneyGram fell $2.20 per share, or over 49.2%, to close at $2.27 per share on November 9, 2018.

The complaint alleges that throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that: (1) MoneyGram was aware for years of high levels of fraud involving its money transfer system; (2) MoneyGram failed to implement appropriate anti-fraud countermeasures, in part, because doing so would adversely impact its revenue; (3) this misconduct would draw scrutiny from the FTC, which had an agreed-upon order requiring MoneyGram to implement a comprehensive anti-fraud program, and the Department of Justice, which entered into a Deferred Prosecution Agreement concerning MoneyGram’s anti-fraud and anti-money laundering programs; and (5) as a result, the defendants’ statements about MoneyGram’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

If you are a member of the class described above, you may no later than January 14, 2019 move the Court to serve as lead plaintiff of the class, if you so choose.

A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.

Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter.  If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.

Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
1-888-299-7706 (toll free) or 1-610-667-7706
Or by e-mail at

Please complete this form relating to your transactions for MoneyGram International, Inc. (Nasdaq: MGI) securities from February 11, 2014 through November 8, 2018, both dates inclusive (the “Class Period”).

Once completed, please click the orange “Submit Your Information” button at the bottom of this page. You may also contact James Maro, Jr., Esq. or Adrienne Bell, Es

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# of Shares
Price per Share
Principal Amount
Amount Paid
Series or CUSIP
# of Contracts
Price per Contract
Exercise Price
Expiration Date
Did you purchase shares of MoneyGram International, Inc. prior to the Class Period?
Are you a current or former employee of MoneyGram International, Inc.?
The submission of this form does not create an attorney-client relationship, nor an obligation on the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Any information you submit will be maintained as confidential. If Kessler Topaz, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss the matter and whether to establish an attorney client relationship. By signing this form you are authorizing us to contact you regarding this case and/or future cases.
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