EQUITY ALERT: Levi & Korsinsky, LLP Reminds Shareholders of Macquarie Infrastructure Corporation of a Class Action Lawsuit and a Lead Plaintiff Deadline of June 25, 2018 – MIC
Levi & Korsinsky, LLP
Jun. 14, 2018
NEW YORK, June 14, 2018 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Macquarie Infrastructure Corporation ("Macquarie") (NYSE:MIC) between February 22, 2016 and February 21, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Southern District of New York. To get more information go to:
or contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The lawsuit concerns on whether the Company and its executives violated federal securities laws by failing to disclose the shifting commodity demands and material risks facing its International-Matex Tank Terminals ("IMTT") business segment.
On February 21, 2018, Macquarie announced it would slash its dividend and that it had lost International-Matex Tank Terminals (“IMTT”) contracts. During a conference call on February 22, 2018, CEO Christopher Frost said “a number of customers terminated contracts for a significant amount of 6 oil capacity at IMTT's facility in St. Rose. Not only did they terminate those contracts, in some cases, they shut down their operations and exited the industry. Many of these firms have been long term customers of IMTT.” Shares of Macquarie fell from a close of $63.62 on February 21, 2018, to a close of $37.41 on February 22, 2018.
If you suffered a loss in Macquarie you have until June 25, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.