Most Claims Stand In Investors' Suit V. MoneyGram

Law360, New York (May 20, 2009, 12:00 AM EDT) -- While MoneyGram International Inc. has won a minor victory in tossing a handful of accounting and misrepresentation claims from consolidated securities litigation brought by three investor groups, the money-order firm still faces primary allegations that it knowingly misstated its financial health to bolster its stock value.

Judge David S. Doty of the U.S. District Court for the District of Minnesota ruled Wednesday that MoneyGram could not have known as early as 2006 that the asset- and mortgage-backed securities with which it had stacked its investment portfolio...
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