NEW YORK, April 17, 2020 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Mesabi Trust ("Mesabi" or "the Company") (NYSE: MSB). Investors who purchased Mesabi securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/msb.
The investigation concerns whether Mesabi and certain of its officers and/or directors have violated federal securities laws.
On April 13, 2020, Mesabi issued a press release declaring a $0.56 per share quarterly dividend, representing a significant decrease from its prior dividend of $0.70 per share. Mesabi advised investors that the decrease was "primarily attributable to a lower volume of iron ore shipments, at lower prices, during the three month period ended December 31, 2019 compared to the same period of 2018, and to the Trust's receipt of total royalty payments of $9,410,394 on January 30, 2020 from Northshore Mining Company ('Northshore'), which was lower than the total royalty payments of $12,388,664 received by the Trust from Northshore in January 2019." On this news, Mesabi's stock price fell sharply during intraday trading on April 14, 2020, damaging investors.
If you are aware of any facts relating to this investigation, or purchased Mesabi shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/msb. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE Bronstein, Gewirtz & Grossman, LLC