MGT Capital Investments, Inc. (NYSE: MGT)
A class action has been commenced in the U.S. District Court for the Southern District of New York, is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired MGT securities between May 9, 2016 and September 20, 2016 inclusive (the "Class Period").
The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (a) the Company was engaging in and/or had engaged in conduct that would result in a Securities and Exchange Commission ("SEC") investigation; (b) the SEC investigation and the underlying conduct would cause the New York Stock Exchange ("NYSE") to refuse to list the Company's 43.8 million shares required for the D-Vasive merger; and (c) as such, the D-Vasive merger would likely not be completed.
On September 19, 2016, MGT announced that it had received a subpoena from the SEC requesting information from the Company. Additionally, the Company announced that the NYSE has refused to list the shares required to close MGT's acquisition of D-Vasive Inc. Following this news, shares of MGT fell from a close of $2.52 the previous day to a close of $1.89 per share on September 20, 2016.
If you are a current shareholder and/or purchased stock between May 9, 2016 and September 20, 2016, and would like to discuss your options of exercising your rights as a shareholder, please contact us.
Please submit the following information so we can determine if you qualify for the suit. If you don't know all the specific details, partial information is also acceptable.
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