METAIRIE, La., Feb. 22, 2008 (PRIME NEWSWIRE) -- The Law Offices of Eric J. O'Bell, LLC ("O'Bell") announces that it is commencing an investigation into MoneyGram International, Inc. ("MoneyGram" or the "Company") (NYSE:MGI) to determine whether it has violated federal securities laws by issuing materially false and misleading statements to shareholders.
On January 15, 2008, shares of the Company lost over half of their value closing at $6.15 per share after MoneyGram announced they would be forced to enter a bailout agreement in order to finance its losses related to its holdings of sub-prime mortgage securities and collateralized debt obligations. MoneyGram shares traded as high as $30.85 in the past 52 weeks.
If you are a MoneyGram shareholder who purchased or acquired shares between April 18, 2007 and January 14, 2008, and/or have information that would assist in this ongoing investigation, or have other questions relating to a loss you've suffered in your investment, you may contact Eric J. O'Bell directly without obligation or cost to you at 504-456-8677; or by email to ejo@obelllawfirm.com.