Cases
MGT Capital Investments, Inc. (NYSE : MGT)
Securities Class Action
Overview
Overview
- Date:
- 9/29/2016
- Company Name:
- MGT Capital Investments, Inc.
- Stock Symbol:
- MGT
- Class Period:
- FROM 5/9/2016 TO 9/20/2016
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Southern District of New York
NEW YORK, September 29, 2016 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the New York Southern District Court on behalf of all persons or entities who acquired MGT Capital Investments, Inc. (NYSE: MGT) securities between May 9, 2016 to September 20, 2016 (the “Class Period”).
Shares in MGT are down nearly 40% since the announcements that on September 19, 2016, MGT received a subpoena from the SEC “requesting certain information,” and that, later the same day, MGT received a notification from the NYSE that “it will not approve the listing on the Exchange of the 43.8 million shares that the Company is required to issue in order to complete the closing of the D-Vassive merger.” This news and the resultant stock drop have caused tens of millions in losses to investors.
The case, brought on behalf of investors who purchased or otherwise acquired MGT securities between May 9, 2016 and September 20, 2016 (the “Class Period”), alleges that the defendants made false and/or misleading statements and/or failed to disclose: (1) the risk that its stock to be issued in connection with the acquisitions of D-Vasive and Demonsaw may not be listed by the NYSE; and (2) that MGT was under inquiry by the SEC prior to September 19, 2016.
If you acquired MGT securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
Shares in MGT are down nearly 40% since the announcements that on September 19, 2016, MGT received a subpoena from the SEC “requesting certain information,” and that, later the same day, MGT received a notification from the NYSE that “it will not approve the listing on the Exchange of the 43.8 million shares that the Company is required to issue in order to complete the closing of the D-Vassive merger.” This news and the resultant stock drop have caused tens of millions in losses to investors.
The case, brought on behalf of investors who purchased or otherwise acquired MGT securities between May 9, 2016 and September 20, 2016 (the “Class Period”), alleges that the defendants made false and/or misleading statements and/or failed to disclose: (1) the risk that its stock to be issued in connection with the acquisitions of D-Vasive and Demonsaw may not be listed by the NYSE; and (2) that MGT was under inquiry by the SEC prior to September 19, 2016.
If you acquired MGT securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.