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MGT Capital Reports Dismissal of Securities Litigation
MGT Capital Reports Dismissal of Securities Litigation.
About this update from Mgt Capital Investments, Inc.
[{"type":"text","content":"\n\n\n\nMGT Capital Reports Dismissal of Securities Litigation\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nMGT Capital Reports Dismissal of Securities Litigation\nClass Action Suit is Dismissed With Prejudice by Federal Court\nPR Newswire\nDURHAM, N.C., Feb. 28, 2018\n\n\n\nDURHAM, N.C., Feb. 28, 2018 /PRNewswire/ -- MGT Capital Investments, Inc. (OTCQB: MGTI) announced the dismissal of the pending federal securities class action lawsuit alleging Company violations of the Securities Exchange Act of 1934. Yesterday, the Honorable Naomi Reice Buchwald, United States District Judge, Southern District of New York, entered an Order granting MGT's Motion to Dismiss in its entirety. Further, this dismissal was granted with prejudice, meaning plaintiffs may not amend the complaint. In summary, the Court found no reason to rule that the Company or any of its Officers misled stockholders with material misrepresentation or omission relating to events in 2016.\n\n\"Notwithstanding the distraction, as well as the waste of time, effort and financial resources to defend this baseless litigation, it is reassuring that common-sense justice can still prevail,\" stated Robert Ladd, President and Chief Executive Officer of MGT.\n\nAbout MGT Capital Investments, Inc.\n\nWith facilities in northern Sweden and WA state, MGT Capital Investments, Inc. (OTCQB: MGTI) ranks as one of the largest U.S. based Bitcoin miners. Further, the Company continues to execute on an expansion model to grow its crypto assets materially. \n\nThe Company also owns a portfolio of cyber security technologies, including the Company's first product, Sentinel, an enterprise class network intrusion detector which was released in October 2017. The Company also owns the intellectual property associated with developing and marketing a mobile phone with extensive privacy and anti-hacking features. The cybersecurity products were guided by John McAfee, the Company's former Chief Cybersecurity Visionary. MGT is presently evaluating various alternatives for its cybersecurity business.\n\nFor more information on the Company,...