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MoneyGram Sued Over Alleged False Statements on Cryptocurrency

March 2, 2021, 12:50 AM

MoneyGram International Inc. and two of its executives were sued in federal court in California on Monday by a purchaser of MoneyGram securities who says the company made false statements about its partnership with Ripple Labs Inc. and its XRP cryptocurrency.

Daniel Glaab filed a proposed class action on behalf of those who bought MoneyGram securities between June 17, 2019, and Feb. 22, 2021, alleging violations of the Securities Exchange Act in connection with XRP cryptocurrency. Ripple and Coinbase Inc. were sued in December after the SEC filed a complaint against Ripple for allegedly not registering XRP.

In the newly ...

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