NEW YORK, March 3, 2021 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of traders of MoneyGram Worldwide, Inc. (“MoneyGram” or the “Firm”) (NASDAQ: MGI). Such traders are suggested to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation considerations whether or not MoneyGram and sure of its officers and/or administrators have engaged in securities fraud or different illegal enterprise practices.
On February 22, 2021, CoinDesk printed an article entitled “MoneyGram Places Relationship With Ripple’s XRP on Maintain,” reporting on MoneyGram’s choice to finish its partnership with the payment-processing firm Ripple. In keeping with the article, MoneyGram “‘just isn’t planning for any profit from Ripple market growth charges within the first quarter’ of 2021, a break from final yr’s Q1 when MoneyGram banked $12.1 million in such charges.” The article additional reported that “Ripple has been paying MoneyGram to make use of the XRP token in worldwide settlement since 2019 and first partaking in a pilot settlement with the service in 2018. Since then, MoneyGram has netted $61.5 million in ‘market growth charges’ from Ripple.”
On this information, MoneyGram’s inventory value fell $3.61 per share, or greater than 33%, over the next two buying and selling periods, closing at $7.26 per share on February 23, 2021.
The Pomerantz Agency, with workplaces in New York, Chicago, Los Angeles, and Paris is acknowledged as one of many premier corporations within the areas of company, securities, and antitrust class litigation. Based by the late Abraham L. Pomerantz, generally known as the dean of the category motion bar, the Pomerantz Agency pioneered the sphere of securities class actions. At this time, greater than 80 years later, the Pomerantz Agency continues within the custom he established, preventing for the rights of the victims of securities fraud, breaches of fiduciary obligation, and company misconduct. The Agency has recovered quite a few multimillion-dollar damages awards on behalf of sophistication members. See www.pomerantzlaw.com
Robert S. Willoughby
SOURCE Pomerantz LLP