MACQUARIE INFRASTRUCTURE SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Macquarie Infrastructure Corporation - MIC
NEW ORLEANS, April 27, 2018 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have untilJune 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.
What You May Do
If you purchased shares of Macquarie and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-mic/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by June 25, 2018.
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.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.