NEW ORLEANS, June 15, 2018 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until June 25, 2018 to file lead plaintiff applications in a securities class action lawsuit against Macquarie Infrastructure Corporation (NYSE:MIC), if they purchased the Company’s shares between February 22, 2016 and February 21, 2018, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
Macquarie investors should visit us at https://www.claimsfiler.com/cases/view-macquarie-infrastructure-corporation-securities-litigation or call to speak to our claim center toll-free at (844) 367-9658.
About the Lawsuit
Macquarie and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On February 21, 2018, the Company disclosed negative Q4 results, including earnings per share well below analysts’ estimates and a substantial dividend cut, attributing the dismal performance to declining demand in a specific fuel oil product, revealing for the first time the significance of that specific product to its business segment, despite prior statements touting the stability and strong performance of that segment.
On this news, the price of Macquarie’s shares plummeted from $63.62 on February 21, 2018, to $37.41 on February 22, 2018.
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