The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of MGI, MDR and PPDF

Wall Street Business News

NEW YORK, Jan. 11, 2019 (GLOBE NEWSWIRE) — The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. If you suffered a loss you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff.

MoneyGram International, Inc. (NASDAQGS: MGI)
Class Period: February 11, 2014 to November 8, 2018
Lead Plaintiff Deadline: January 14, 2019

MoneyGram International, Inc. allegedly made materially false and/or misleading statements and/or failed to disclose that: (1) MoneyGram was aware for years of high levels of fraud involving its money transfer system; (2) MoneyGram failed to implement appropriate anti-fraud countermeasures, in part, because doing so would adversely impact its revenue; (3) this misconduct would draw scrutiny from the FTC, which had an agreed-upon order requiring MoneyGram to implement a comprehensive anti-fraud program; (4) this misconduct would draw scrutiny from the Department of Justice, which entered into a Deferred Prosecution Agreement concerning MoneyGram’s anti-fraud and anti-money laundering programs; and (5) as a result, defendants’ statements about MoneyGram’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Get additional information about the MGI lawsuit: http://www.kleinstocklaw.com/pslra-1/moneygram-international-inc-loss-submission-form?wire=3

McDermott International, Inc. (NYSE: MDR)
Class Period: January 24, 2018 to October 30, 2018
Lead Plaintiff Deadline: January 15, 2019

The complaint alleges that throughout the class period McDermott International, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company was facing strong headwinds and would fail to meet revenue and earnings estimates; (2) there were material problems with the integration of the CB&I business; (3) certain CB&I projects were reasonably likely to incur higher costs; (4) as a result, the fair value of these CB&I projects would be materially impacted; and (5) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Get additional information about the MDR lawsuit: http://www.kleinstocklaw.com/pslra-1/mcdermott-international-inc-loss-submission-form?wire=3

PPDAI Group Inc. (NYSE: PPDF)
Class Period: Purchasers of American Depositary Shares (1) pursuant or traceable to the F-1 registration statement, the F-6 registration statement, and related Prospectus issued in connection with PPDAI’s initial  public stock offering held on or about November 10, 2017 (the “IPO” or “Offering”) and/or (2) between November 10, 2017 and December 1, 2017
Lead Plaintiff Deadline: January 25, 2019

The lawsuit alleges PPDAI Group Inc. made materially false and/or misleading statements and/or failed to disclose during the class period that: (1) PPDAI was engaged in predatory lending practices that saddled subprime borrowers and those with poor or limited credit histories with high interest rate debt they could not repay; (2) many of PPDAI’s customers were using PPDAI-provided loans to repay existing loans they otherwise could not afford to repay, thereby inflating PPDAI’s revenues and active borrower numbers and increasing the likelihood of defaults; (3) PPDAI was experiencing increasing delinquency rates, negatively affecting PPDAI’s reserves; (4) PPDAI’s purported “rapid growth” in the number and amount of loans had materially dropped off; (5) PPDAI was providing online loans to college students despite a government ban on the practice; (6) PPDAI was engaged in overly aggressive and improper collection practices; and (7) as a result of its improper lending, underwriting, and collection practices, PPDAI was subject to heightened risk of adverse actions by Chinese regulators. When the true details entered the market, the lawsuit claims that investors suffered damages.

Get additional information about the PPDF lawsuit: http://www.kleinstocklaw.com/pslra-1/ppdai-group-inc-loss-submission-form?wire=3

Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. There is no cost or obligation to you. If you suffered a loss during the class period and wish to obtain additional information, please contact J. Klein, Esq. by telephone at 212-616-4899 or visit the webpages provided.

J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
Fax: (347) 558-9665
www.kleinstocklaw.com

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