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MGT Loss Alert: Bernstein Liebhard LLP Announces That a Securities Class Action Lawsuit Has Been Filed Against MGT Capital Investments, Inc. – MGTI
MGT Loss Alert: Bernstein Liebhard LLP Announces That a Securities Class Action Lawsuit Has Been Filed Against MGT Capital Investments, Inc. – MGTI.
About this update from Mgt Capital Investments, Inc.
[{"type":"text","content":"\nNEW YORK, Oct. 03, 2018 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of those who purchased or acquired the securities of MGT Capital Investments, Inc. (“MGT” or the “Company”) (OTCMKTS: MGTI) between October 9, 2015 and September 7, 2018, both dates inclusive (the “Class Period”). The lawsuit seeks to recover MGT shareholders’ investment losses.\n If you purchased MGT securities, and/or would like to discuss your legal rights and options, please visit MGT Shareholder Class Action Lawsuit or contact Daniel Sadeh toll free at (877) 779-1414 or [email protected]. According to the lawsuit, throughout the Class Period Defendants made 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’s stock price; (2) this illicit scheme caused MGT to make false and misleading statements, which would result in governmental scrutiny, including from the SEC; (3) certain of the scheme defendants exercised control over MGT and its management; (4) consequently, the illicit scheme would ultimately cause MGT’s stock to become delisted from the NYSE MKT; and (5) as a result, defendants’ statements about MGT’s business and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. On September 7, 2018, the U.S. Securities and Exchange Commission (“SEC”) filed a lawsuit against a former officer of MGT as well as other individuals and corporations, alleging violations of the federal securities laws. The SEC complaint alleges 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, MGT stock fell $0.195 per share, or over 33%, over the next two trading days to close at $0.395 per shar...