The Brualdi Law Firm P.C. Announces Class Action Lawsuit
Against MoneyGram International, Inc.
NEW YORK, April 14, 2008 (Lawfuel) — The Brualdi Law Firm P.C.
announced today that it has filed that a class action lawsuit has been
commenced in the United States District Court for the District of
Minnesota on behalf of purchasers of the common stock of MoneyGram
International, Inc. (“MoneyGram” or the “Company”) (NYSE:MGI) between
January 24, 2007 and January 14, 2008, inclusive (the “Class Period”).
No class has yet been certified in the above action. If you purchased
MoneyGram stock during the Class Period, you may be a member of the
proposed Class. You must move the Court on or before May 27, 2008 if
you wish to serve as a lead plaintiff. In making your decision, you
should take into account that those with large financial losses
resulting from the alleged federal securities law violations are given
preference in being appointed lead plaintiff.
To be a member of the class you need not take any action at this time,
and you may retain counsel of your choice. 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 Tali Leger,
Director of Shareholder Relations at The Brualdi Law Firm P.C., 29
Broadway, Suite 2400, New York, New York 10006, by telephone toll free
at (877) 495-1877 or (212) 952-0602, by email to
[email protected] or visit our website at
According to the complaint, the defendants made materially false and
misleading statements about MoneyGram’s financial results during the
Class Period, some contained in SEC filings. In particular, the
complaint alleges that the defendants: (a) failed to sufficiently
inform the investing public about MoneyGram’s risk exposure in its
asset-backed securities investments; (b) failed to disclose that the
Company’s asset-backed securities investments were in fact permanently
impaired when the credit market deteriorated; (c) misrepresented the
amount of the Company’s losses from the risky securities; and (d)
misled investors regarding the Company’s overall financial results and
internal controls, among other things. As a result, investors purchased
MoneyGram securities at artificially inflated prices during the Class
Period and suffered damages.
CONTACT: The Brualdi Law Firm P.C.
Tali Leger, Director of Shareholder Relations