LOS ANGELES, CA / ACCESSWIRE / October 19, 2016 / Lundin Law PC (the "Firm") announces a class action lawsuit against MGT Capital Investments, Inc. ("MGT" or the "Company") (MGT) concerning possible violations of federal securities laws between May 9, 2016 and September 20, 2016 inclusive (the "Class Period"). Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm before the November 21, 2016 lead plaintiff motion deadline.
No class has been certified in the above action. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
The complaint alleges that MGT made false and/or misleading statements and/or failed to disclose the risk that its stock to be issued in connection with the acquisitions of D-Vasive and Demonsaw may not be listed by the New York Stock Exchange ("NYSE"); and that MGT was under inquiry by the U.S. Securities and Exchange Commission ("SEC") prior to September 19, 2016. On September 19, 2016, the Company announced that it received a subpoena from the SEC requesting information, and that it received a notification from the NYSE that the exchange would not approve the listing of the 43.8 million shares MGT is required to issue in order to complete the D-Vasive merger. When this news went public, MGT's stock price fell, which caused investors harm.
Lundin Law PC was established by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding the rights of shareholders.
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SOURCE: Lundin Law PC