GPM Reminds Investors Of The November 21st Deadline In The Class Action Lawsuit Against MGT Capital Investments, Inc. And Encourages Investors To Contact The Firm

Glancy Prongay & Murray LLP ("GPM") reminds investors of the November 21, 2016 deadline to file a lead plaintiff motion in the class action lawsuit filed on behalf of investors who purchased or otherwise acquired MGT Capital Investments, Inc. ("MGT" or the "Company") (NYSE MKT: MGT) securities between May 9, 2016, and September 20, 2016, inclusive (the "Class Period"). MGT investors have until  November 21, 2016 to file a lead plaintiff motion.

The filed complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements concerning a proposed merger with D-Vasive, Inc. ("D-Vasive"), as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company was engaging and/or had engaged in conduct that would result in an SEC investigation; (2) that the SEC investigation and the underlying conduct would cause the NYSE to refuse to list the Company's 43.8 million shares required for the closing of the D-Vasive merger; (3) that, as such, the D-Vasive merger would likely not be completed; and (4) that, as a result of the foregoing, Defendants' statements about MGT's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

On September 19, 2016, the Company issued a press release announcing that on September 15, 2016 the Company had received a subpoena from the SEC requesting "certain information" from the Company. On this news, MGT's stock price fell $0.74 per share, or 22.7%, to close at $2.52 per share on September 19, 2016, on unusually heavy trading volume, thereby injuring investors.

On September 20, 2016, MGT issued a press release entitled "MGT Provides Update on Status of D-Vasive Acquisition." Therein, the Company disclosed that the NYSE informed the Company on September 19, 2016, that the NYSE would not approve the listing of the 43.8 million shares that the Company was required to issue in order to complete the closing of its D-Vasive merger. On this news, MGT's stock price fell $0.63 per share, or 25%, to close at $1.89 per share on September 20, 2016, on unusually heavy trading volume.

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