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SOURCE Iroquois Capital Management, LLC
Expresses Serious Concerns with the Board's Recent, Reactive and Shareholder-Unfriendly Entrenchment Actions
States that the Market Currently Reflects the Lack of Confidence in Management's Ability to Unlock Value at MGT
Highlights the Substantial Dilution and Loss of Value Shareholders Have Suffered Under CEO Robert Ladd During the Past Three Years
Believes Change is Required to Ensure Appropriate Actions are Taken to Improve Execution, Drive Better Financial Performance, Reconstitute the Board and Create Value for All Shareholders
NEW YORK, Feb. 5, 2014 /PRNewswire/ -- Iroquois Capital Management, LLC (together with its affiliates, "Iroquois"), the largest unaffiliated shareholder of MGT Capital Investments, Inc. ("MGT" or the "Company") (NYSE:MGT) with beneficial ownership of approximately 9.99% of the outstanding common stock of the Company, today announced that it has delivered a letter to the Company's President and Chief Executive Officer, Robert Ladd, Treasurer and Chief Financial Officer, Robert Traversa, and the Company's Board of Directors.