Pittman v. Moneygram [Premium]

Summary

In this Finance Securities litigation hearing, plaintiff Willie Pittman a minority shareholder claimed that Moneygram International Group’s plan of recapitalizing the company through affiliates of Goldman Sachs Group Inc. and Thomas H. Lee Partners LLP will be Grossly Unfair to the common stockholders. The Plaintiff’s counsels argued that this will allow the controlling investors of the company to cash out their 29% holding worth $760 of the company’s preferred stock while the minority shareholders will suffer voting power and cash value dilution.

The Plaintiff was represented by attorney Michael Hanrahan. The defendant in this case, Moneygram International Group and other defendants were represented by attorney Thomas Jackson.