MGT CAPITAL INVESTMENTS, INC. INVESTOR ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the District of New Jersey against MGT Capital Investments, Inc.
NEW YORK, Oct. 04, 2018 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been filed against MGT Capital Investments, Inc. (“MGT Capital” or the “Company”) (OTC: MGTI) in the United States District Court for the District of New Jersey on behalf of a class consisting of investors who purchased or otherwise acquired MGT Capital securities between October 9, 2015 through September 7, 2018, both dates inclusive (the “Class Period”).
Investors who have incurred losses in the shares of MGT Capital Investments, Inc. are urged to contact the firm immediately at firstname.lastname@example.org or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.
If you have incurred losses in the shares of MGT Capital Investments, Inc, you may, no later than November 27, 2018, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in MGT Capital Investments, Inc.
The filed Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that:
-- Defendants were engaged in a pump-and-dump scheme to artificially inflate MGT Capital’s stock price; -- this illicit scheme caused MGT Capital to make false and misleading statements, which would result in governmental scrutiny, including from the SEC;
-- certain of the scheme Defendants exercised control over MGT Capital and its management; -- consequently, the illicit scheme would ultimately cause MGT Capital’s stock to become delisted from NYSE MKT; and -- as a result, Defendants’ statements about MGT Capital’s business and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
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.”
Wolf Haldenstein Adler Freeman & Herz LLP has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at email@example.com, or visit our website at www.whafh.com.
Wolf Haldenstein Adler Freeman & Herz LLP Kevin Cooper, Esq.Gregory Stone, Director of Case and Financial AnalysisEmail: firstname.lastname@example.org, email@example.com or firstname.lastname@example.org Tel: (800) 575-0735 or (212) 545-4774
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