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Glancy Prongay & Murray LLP Announces the Filing of a Securities Class Action on Behalf of MGT Capital Investments, Inc. Investors (MGTI)

October 11, 2018

LOS ANGELES--(BUSINESS WIRE)--Oct 11, 2018--Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors that purchased or otherwise acquired MGT Capital Investments, Inc. (“MGT” or the “Company”) (OTC:  MGTI ) securities between  October 9, 2015 to September 7, 2018,  inclusive (the “Class Period”). MGT investors have until  November 27, 2018 to file a lead plaintiff motion.

If you are a shareholder who suffered a loss, click  here  to participate.

On September 7, 2018, the U.S. Securities and Exchange Commission (“SEC”) filed a lawsuit against MGT and certain defendants, alleging 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.” On this news, shares of MGT fell $0.195, or over 33%, to close at $0.395 per share on September 10, 2018, thereby damaging investors.

The complaint alleges MGT Capital Investments Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) defendants were engaged in a pump-and-dump scheme to artificially inflate MGT Capital’s stock price; (2) this illicit scheme caused MGT Capital to make false and misleading statements, which would result in governmental scrutiny, including from the SEC; (3) certain of the defendants exercised control over MGT Capital and its management; (4) consequently, the illicit scheme would ultimately cause MGT Capital’s stock to become delisted from NYSE MKT; and (5) 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.

Follow us for updates on Twitter: twitter.com/GPM_LLP.

If you purchased shares of MGT during the Class Period you may move the Court no later than  November 27, 2018 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181011005968/en/

CONTACT: Glancy Prongay & Murray LLP, Los Angeles

Lesley Portnoy, 310-201-9150 or 888-773-9224

www.glancylaw.com

shareholders@glancylaw.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL

SOURCE: Glancy Prongay & Murray LLP

Copyright Business Wire 2018.

PUB: 10/11/2018 06:19 PM/DISC: 10/11/2018 06:19 PM

http://www.businesswire.com/news/home/20181011005968/en

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