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Glancy Prongay & Murray LLP Reminds Investors of the Deadline in the Class Action Lawsuit Against MGT Capital Investments, Inc.
Glancy Prongay & Murray LLP Reminds Investors of the Deadline in the Class Action Lawsuit Against MGT Capital Investments, Inc..
About this update from Mgt Capital Investments, Inc.
[{"type":"text","content":"\nLOS ANGELES, Nov. 20, 2018 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP (“GPM”) reminds investors of the November 27, 2018 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased MGT Capital Investments, Inc. (“MGT” or the “Company”) (OTC: MGTI) securities between October 9, 2015 to September 7, 2018, inclusive (the “Class Period”). MGT investors have until November 27, 2018 to file a lead plaintiff motion.\n If you are a shareholder who suffered a loss, click here to participate. On September 7, 2018, the U.S. Securities and Exchange Commission (“SEC”) filed a lawsuit against MGT and certain defendants, alleging that defendants were participants in “highly profitable ‘pump-and-dump’ schemes...from 2013 through 2018” in the stock of three public companies, including MGT. The SEC complaint further alleges that the schemes “enrich[ed] Defendants by millions of dollars, [and] left retail investors holding virtually worthless shares.” On this news, shares of MGT fell $0.195, or over 33%, to close at $0.395 per share on September 10, 2018, thereby damaging investors. The complaint alleges MGT Capital Investments Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) defendants were engaged in a pump-and-dump scheme to artificially inflate MGT Capital’s stock price; (2) this illicit scheme caused MGT Capital to make false and misleading statements, which would result in governmental scrutiny, including from the SEC; (3) certain of the defendants exercised control over MGT Capital and its management; (4) consequently, the illicit scheme would ultimately cause MGT Capital’s stock to become delisted from NYSE MKT; and (5) as a result, defendants’ statements about MGT Capital’s business and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. Follow us for updates on Twitter: twitter.com/GPM_LLP. If you purchased shares of MGT, you may move the Court no later than November 27, 2018 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or ta...