Business
Glancy Prongay & Murray LLP Announces the Filing of a Securities Class Action on Behalf of MGT Capital Investments, Inc. Investors (MGTI)
Glancy Prongay & Murray LLP Announces the Filing of a Securities Class Action on Behalf of MGT Capital Investments, Inc. Investors (MGTI).
About this update from Mgt Capital Investments, Inc.
[{"type":"text","content":"\n \n Glancy \n Prongay & Murray LLP (“GPM”) announces that a class action \n lawsuit has been filed on behalf of investors that purchased or \n otherwise acquired MGT Capital Investments, Inc. (“MGT” or the \n “Company”) (OTC: MGTI) \n securities between October 9, 2015 to September 7, 2018, inclusive \n (the “Class Period”). MGT investors have until November 27, 2018 to \n file a lead plaintiff motion.\n \n \n If you are a shareholder who suffered a loss, click here to \n participate.\n \n \n On September 7, 2018, the U.S. Securities and Exchange Commission \n (“SEC”) filed a lawsuit against MGT and certain defendants, alleging \n that defendants were participants in “highly profitable ‘pump-and-dump’ \n schemes...from 2013 through 2018” in the stock of three public \n companies, including MGT. The SEC complaint further alleges that the \n schemes “enrich[ed] Defendants by millions of dollars, [and] left retail \n investors holding virtually worthless shares.” On this news, shares of \n MGT fell $0.195, or over 33%, to close at $0.395 per share on September \n 10, 2018, thereby damaging investors.\n \n \n The complaint alleges MGT Capital Investments Inc. made materially false \n and/or misleading statements and/or failed to disclose that: (1) \n defendants were engaged in a pump-and-dump scheme to artificially \n inflate MGT Capital’s stock price; (2) this illicit scheme caused MGT \n Capital to make false and misleading statements, which would result in \n governmental scrutiny, including from the SEC; (3) certain of the \n defendants exercised control over MGT Capital and its management; (4) \n consequently, the illicit scheme would ultimately cause MGT Capital’s \n stock to become delisted from NYSE MKT; and (5) as a result, defendants’ \n statements about MGT Capital’s business and prospects were materially \n false and misleading and/or lacked a reasonable basis at all relevant \n times.\n \n \n Follow us for updates on Twitter: twitter.com/GPM_LLP.\n \n \n If you purchased shares of MGT during the Class Period you may move the \n Court no later than November 27, 2018 to ask the Court to \n appoint you as lead plaintiff. To be a member of the Class you need no...