NEW YORK (TheStreet) -- Shares of MGT Capital Investments (MGT) were falling 13.8% to $2.81 on heavy trading volume mid-morning on Monday after the company said that it was subpoenaed by the SEC on September 15.
The SEC requested certain information from the Harrison, NY-based online gaming developer, but MGT said that it has no reason to believe it will be the subject of any enforcement proceedings, according to a company statement.
MGT said that it's fully complying with the SEC's request.
Additionally, the company is in the process of acquiring anti-spying software D-Vasive and anonymous file sharing company Demonsaw.
MGT plans to change its name to John McAfee Global Technologies following the close of the D-Vasive deal.
More than 3.18 million shares of the company have traded hands so far vs. the 30-day average volume of 2.11 million shares.