|Company name||MGT Capital Investments, Inc.|
|Class period||October 9, 2015 through September 7, 2018|
|Lead plaintiff deadline||November 27, 2018|
|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 Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.