MGT SHAREHOLDERS HAVE AN OPPORTUNITY TO RECOVER THEIR INVESTMENT LOSSESCLICK HERE TO VIEW THE FIRM RÉSUMÉ OF BERNSTEIN LIEBHARD LLP.
MGT Capital Investments, Inc.
Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of those who purchased or acquired the securities of MGT Capital Investments, Inc. (OTCMKTS: MGTI) between October 9, 2015 and September 7, 2018. The lawsuit seeks to recover MGT shareholders’ investment losses.
If you purchased shares of MGT between October 9, 2015 and September 7, 2018 and would like to join the action, please click “Join Class Action” above.
MGT CAPITAL CLASS ACTION LAWSUIT: BERNSTEIN LIEBHARD LLP ANNOUNCES THAT A SECURITIES CLASS ACTION LAWSUIT HAS BEEN FILED AGAINST MGT CAPITAL INVESTMENTS, INC. – MGTI
September 28, 2018.
New York, New York—Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of those who purchased or acquired the securities of MGT Capital Investments, Inc. (“MGT” or the “Company”) (OTCMKTS: MGTI) between October 9, 2015 and September 7, 2018, both dates inclusive (the “Class Period”). The lawsuit seeks to recover MGT shareholders’ investment losses.
According to the lawsuit, throughout the Class Period Defendants made 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’s stock price; (2) this illicit scheme caused MGT to make false and misleading statements, which would result in governmental scrutiny, including from the SEC; (3) certain of the scheme defendants exercised control over MGT and its management; (4) consequently, the illicit scheme would ultimately cause MGT’s stock to become delisted from the NYSE MKT; and (5) as a result, defendants’ statements about MGT’s business and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On September 7, 2018, the U.S. Securities and Exchange Commission (“SEC”) filed a lawsuit against a former officer of MGT 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. 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, MGT stock fell $0.195 per share, or over 33%, over the next two trading days to close at $0.395 per share on September 10, 2018, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than November 27, 2018. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.