MoneyGram $10 Million Investor Settlement Approved by Judge
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MoneyGram International Inc., a provider of cash transfers worldwide, won a judge’s permission to pay $10 million to settle a 2011 shareholder lawsuit over a company recapitalization plan.
MoneyGram designed the plan to let controlling investors convert about 29 percent of their $760 million investment in preferred stock, diluting common stockholders’ value and voting power, investors contended.