Cases
MGT Capital Investments, Inc. (MGTI)
Securities Class Action
Overview
Overview
- Date:
- 9/28/2018
- Company Name:
- MGT Capital Investments, Inc.
- Stock Symbol:
- MGTI
- Class Period:
- FROM 10/9/2015 TO 9/7/2018
- Status:
- Filed
- Court:
- U.S. Bankruptcy Court: District of New Jersey
NEW YORK, September 28, 2018 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the District of New Jersey on behalf of all persons or entities who purchased or otherwise acquired MGT Capital Investments, Inc. (Other OTC: MGTI) securities between October 9, 2015 through September 7, 2018 (the “Class Period”).
The complaint alleges that throughout the Class Period, defendants made false and misleading statements to the market. The SEC filed a lawsuit against a former MGT Capital officer and others alleging a pump & dump scheme to artificially drive up the price of the Company’s stock price. The management of MGT Capital was influenced by the scheme, ultimately resulting in the Company’s stock being delisted by the New York Stock Exchange.
On September 7, 2018, the U.S. Securities and Exchange Commission (“SEC”) filed a lawsuit against a former officer of MGT Capital 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 Capital, that, “while enriching Defendants by millions of dollars, left retail investors holding virtually worthless shares.”
On this news, MGT Capital’s share price fell over 25%, closing at $0.44 per share on September 7, 2018.
If you purchased MGT securities during the Class Period or continue to hold shares purchased before the Class Period, have information, 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 Fortunato 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.
The complaint alleges that throughout the Class Period, defendants made false and misleading statements to the market. The SEC filed a lawsuit against a former MGT Capital officer and others alleging a pump & dump scheme to artificially drive up the price of the Company’s stock price. The management of MGT Capital was influenced by the scheme, ultimately resulting in the Company’s stock being delisted by the New York Stock Exchange.
On September 7, 2018, the U.S. Securities and Exchange Commission (“SEC”) filed a lawsuit against a former officer of MGT Capital 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 Capital, that, “while enriching Defendants by millions of dollars, left retail investors holding virtually worthless shares.”
On this news, MGT Capital’s share price fell over 25%, closing at $0.44 per share on September 7, 2018.
If you purchased MGT securities during the Class Period or continue to hold shares purchased before the Class Period, have information, 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 Fortunato 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.