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CLASS ACTION UPDATE for MGI and PPDF: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

January 10, 2019

NEW YORK, Jan. 10, 2019 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court and further details about the cases can be found at the links provided. There is no cost or obligation to you.

MoneyGram International, Inc. (NASDAQGS: MGI) Class Period: February 11, 2014 - November 8, 2018 Lead Plaintiff Deadline: January 14, 2019 Join the action: https://www.zlk.com/pslra-1/moneygram-international-inc-loss-form-2?wire=3

Allegations: MoneyGram International, Inc. made materially false and/or misleading statements throughout the class period and/or failed to disclose that: (1) MoneyGram was aware for years of high levels of fraud involving its money transfer system; (2) MoneyGram failed to implement appropriate anti-fraud countermeasures, in part, because doing so would adversely impact its revenue; (3) this misconduct would draw scrutiny from the FTC, which had an agreed-upon order requiring MoneyGram to implement a comprehensive anti-fraud program; (4) this misconduct would draw scrutiny from the Department of Justice, which entered into a Deferred Prosecution Agreement concerning MoneyGram’s anti-fraud and anti-money laundering programs; and (5) as a result, defendants’ statements about MoneyGram’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

To learn more about the MoneyGram International, Inc. class action contact jlevi@levikorsinsky.com.

PPDAI Group Inc. (NYSE: PPDF) Class Period: Purchasers of American Depositary Shares (1) pursuant or traceable to the F-1 registration statement, the F-6 registration statement, and related Prospectus issued in connection with PPDAI’s initial public stock offering held on or about November 10, 2017 (the “IPO” or “Offering”) and/or (2) between November 10, 2017 and December 1, 2017 Lead Plaintiff Deadline: January 25, 2019 Join the action: https://www.zlk.com/pslra-1/ppdai-group-inc-ppdf-loss-form?wire=3

Allegations: PPDAI Group Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) PPDAI was engaged in predatory lending practices that saddled subprime borrowers and those with poor or limited credit histories with high interest rate debt they could not repay; (2) many of PPDAI’s customers were using PPDAI-provided loans to repay existing loans they otherwise could not afford to repay, thereby inflating PPDAI’s revenues and active borrower numbers and increasing the likelihood of defaults; (3) PPDAI was experiencing increasing delinquency rates, negatively affecting PPDAI’s reserves; (4) PPDAI’s purported “rapid growth” in the number and amount of loans had materially dropped off; (5) PPDAI was providing online loans to college students despite a government ban on the practice; (6) PPDAI was engaged in overly aggressive and improper collection practices; and (7) as a result of its improper lending, underwriting, and collection practices, PPDAI was subject to heightened risk of adverse actions by Chinese regulators. When the true details entered the market, the lawsuit claims that investors suffered damages.

To learn more about the PPDAI Group Inc. class action contact jlevi@levikorsinsky.com.

You have until the lead plaintiff deadlines to request the court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT:Levi & Korsinsky, LLPJoseph E. Levi, Esq.55 Broadway, 10th FloorNew York, NY 10006 jlevi@levikorsinsky.com Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171 www.zlk.com

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