NEW YORK, March 21, 2018 /PRNewswire/ -- Scott+Scott Attorneys at Law LLP ("Scott+Scott"), a national shareholder and consumer rights litigation firm, is investigating whether Micro Focus International plc ("Micro Focus" or the "Company") (NYSE: MFGP) or certain of its officers and directors violated federal securities or other laws. If you are a holder of Micro Focus American Depository Receipts ("ADRs"), you are encouraged to contact a Scott+Scott attorney at (844) 818-6982 for more information.
Micro Focus provides enterprise application management and software solutions.
On March 19, 2018, Micro Focus announced that "the rate of year-on-year revenue decline has been greater than anticipated" and that the Company was "issuing revised constant currency revenue guidance for the twelve months ending 31 October 2018 of minus 6% to minus 9% compared to the proforma 12 months ending 31 October 2017." Additionally, the Company disclosed that its Chief Executive Officer had resigned, effective immediately.
On this news, the price of Micro Focus ADRs declined $12.20 per share -- over 46.5% -- to close at $14.01 on March 19, 2018.
What You Can Do
If you are a Micro Focus shareholder, and you wish to discuss this investigation, please contact attorney Joe Pettigrew at (844) 818-6982, or at firstname.lastname@example.org.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
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