MoneyGram Can't Blame $125M Fine On Software: Investors

Law360 (July 1, 2019, 9:29 PM EDT) -- Investors suing MoneyGram over a $125 million fine urged an Illinois federal court Monday not to throw out their proposed securities class action accusing the money transfer company of lying about its anti-fraud compliance, saying the company's argument that its misconduct reflected software kinks doesn’t hold water.

Pushing back on Texas-based MoneyGram’s claims that they should have known the risk that its anti-fraud and anti-money laundering compliance programs might not meet the expectations of government regulators, investors said Monday that those assertions go against both the federal government’s findings and the money-moving giant’s own admissions to the U.S. Department of Justice....

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Illinois Northern

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850(Securities/Commodities)

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Date Filed

November 14, 2018

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