Business
SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in MGT Capital Investments, Inc. of Class Action Lawsuit and Upcoming Deadline – MGTI
SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in MGT Capital Investments, Inc. of Class Action Lawsuit and Upcoming Deadline – MGTI.
About this update from Mgt Capital Investments, Inc.
[{"type":"text","content":"\nNEW YORK, Nov. 09, 2018 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against MGT Capital Investment, Inc. (“MGT Capital” or the “Company”) (OTCMKTS:  MGTI) and certain of its officers.   The class action, filed in United States District Court, Southern District of New York, and index under 18-cv-09228, is on behalf of a class consisting of all persons and entities, other than Defendants and their affiliates, who purchased publicly traded securities of MGT Capital from October 9, 2015 through September 7, 2018, both dates inclusive (the “Class Period”), seeking to recover compensable damages caused by Defendants’ violations of federal securities laws and pursue remedies under the Securities Exchange Act of 1934 (the “Exchange Act”).\n If you are a shareholder who purchased MGT Capital securities between October 9, 2015, and September 7, 2018, both dates inclusive, you have until November 27, 2018, to ask the Court to appoint you as Lead Plaintiff for the class.  A copy of the Complaint can be obtained at www.pomerantzlaw.com.   To discuss this action, contact Robert S. Willoughby at [email protected] or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.  [Click here to join this class action] From 2013 until April 2016, MGT Capital described itself primarily as “engaged in the business of acquiring, developing and monetizing assets in the online and mobile gaming space as well as the social casino industry.” In May 2016, MGT Capital announced it was transforming itself into a cybersecurity company. MGT Capital currently purports to be engaged in bitcoin mining, with operations in the State of Washington and Sweden. Starting in 2015, Barry Honig (“Honig”) and his associates chose MGT Capital to effectuate their modus operandi: buy cheap shares; obtain control over the company and its management; exercise that control in order to cause the company to engage in a misleading stock promotion that drives up the stock price and the trading volume of the company’s shares; and finally, dump their shares for a profit in the inflated market.  ...