Company: MoneyGram International, Inc.
Kaskela Law is investigating MoneyGram International, Inc. (Nasdaq: MGI) (“MoneyGram”) on behalf of the company’s stockholders.
On November 8, 2018, the FTC issued a press release entitled “MoneyGram Agrees to Pay $125 Million to Settle Allegations that the Company Violated the FTC’s 2009 Order and Breached a 2012 DOJ Deferred Prosecution Agreement.” According to the press release, “[t]he FTC alleges that MoneyGram was aware for years of the high levels of fraud and suspicious activities involving certain agents, including large chain agents. … At the same time, MoneyGram also often failed to promptly conduct the required reviews or to suspend or terminate agents, particularly those from larger locations with high levels of fraud.”
The investigation seeks to determine whether members of MoneyGram’s board of directors breached their fiduciary duties to stockholders in connection with the above.
For additional information about this investigation, or to discuss your legal rights and options with respect to this matter, please contact Kaskela Law LLC at (888) 715 – 1740 or complete the information form on this page.