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Monaker Group, Inc. (MKGI)

OTC:MKGI

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Monaker Group, Inc. To Contact The Firm Before Lead Plaintiff Deadline

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Monaker Group, Inc.  (“Monaker” or the “Company”) (OTC:MKGI) of the February 10, 2017 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.

The lawsuit has been filed in the U.S. District Court for the Southern District of Florida on behalf of all those who purchased Monaker stock or options between April 6, 2012 and June 23, 2016 (the “Class Period”).  The case, McCleod v. Monaker Group, Inc. et al, No. 16-cv-62902 was filed on December 9, 2016, and has been assigned to Judge William J. Zloch.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose that some Monaker executives were involved in secretly transferring funds to a separate company controlled by these executives.

Specifically, on June 23, 2016, Monaker filed a 10-K announcing that it would have to restate its financial statements released during the Class Period, claiming that Monaker had paid up to $11.1M of Monaker’s funds to support the operations of an entirely separate public company—RealBiz Media Group, Inc.—that had been, until recently, controlled by several Monaker executives. The 10-K states that the fund transfers were done without any consideration in return. 

Take Action

If you invested in purchased Monaker stock or options between April 6, 2012 and June 23, 2016 and would like to discuss your legal rights, please fill out the form below. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.  Faruqi & Faruqi, LLP also encourages anyone with information regarding Monaker’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

 

 

Request Information

Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you.

  • Case:
    Monaker Group, Inc. (MKGI)
  •    

* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 12/16/2016

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