IMPORTANT MGT CAPITAL INVESTMENTS, INC. SHAREHOLDER ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that it has filed a securities class action lawsuit on behalf of MGT Capital Investments, Inc. shareholders
Lead Plaintiff Deadline is November 21, 2016
NEW YORK, NY / ACCESSWIRE / September 26, 2016 / Wolf Haldenstein Adler Freeman & Herz LLP announces that it has filed a class action against MGT Capital Investments, Inc. ("MGT" or the "Company") (NYSE MKT: MGT) and certain of its officers. The class action, filed in United States 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").
Shareholders who have incurred losses in MGT Capital Investments, Inc. are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may also review the filed complaint and obtain additional information concerning the action on our website, www.whafh.com.
If you purchased shares of MGT Capital Investments, Inc., you may, no later than November 21, 2016, request that the Court appoint you lead plaintiff of the proposed class.
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.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.
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Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, donovan@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774
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SOURCE: Wolf Haldenstein Adler Freeman & Herz LLP
