Macquarie Infrastructure Corporation (NYSE: MIC)

DEFENDANT NAME: Macquarie Infrastructure Corporation
STOCK SYMBOL: NYSE: MIC
CASE NUMBER:
COURT: U.S. District Court for the Southern District of New York
PRACTICE AREA: Investor Fraud
STATUS: Investigation
CLASS PERIOD: February 22, 2016 - February 21, 2018
LEAD PLAINTIFF DEADLINE: June 25, 2018
DATE FILED:
COURT LOCATION:
RELATED DOCUMENTS:
CONTACT:
510-725-3000 MIC@hbsslaw.com

Hagens Berman Sobol Shapiro LLP alerts investors in Macquarie Infrastructure Corporation (NYSE: MIC) to the June 25, 2018 Lead Plaintiff deadline the securities class action pending in the U.S. District Court for the Southern District of New York.

If you purchased or otherwise acquired shares of MIC between February 22, 2016 and February 21, 2018 and suffered losses contact Hagens Berman Sobol Shapiro LLP.  For more information, contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing MIC@hbsslaw.com.

After the close of trading on February 21, 2018, Defendants announced disappointing fourth quarter earnings of $0.43 per share and a 31% dividend cut.  They blamed the poor performance on the decline in use of heavy residual oil products, namely No. 6 oil fuel, which was a previously undisclosed dependency of its core International-Matex Tank Terminals (“IMTT”) business.

This news drove the price of Macquarie shares down $26.21, or about 41%, to close at $37.41 on February 22, 2018.

“We’re focused on investors’ enormous losses and Defendants’ apparent omissions about one of Macquarie’s core operations in light of their recent denials of issues with IMTT,” said Hagens Berman partner Reed Kathrein.

Whistleblowers:  Persons with non-public information regarding Macquarie should consider their options to help in the investigation or take advantage of the SEC Whistleblower program.  Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.  For more information, call Reed Kathrein at 510-725-3000 or email MIC@hbsslaw.com.


Hagens Berman purchases advertisements on search engines, social media sites and other websites. Transmission of the information contained or available through this website is not intended to create, and receipt does not constitute, an attorney-client relationship. If you seek legal advice or representation by Hagens Berman, you must first enter a formal agreement. All information contained in any transmission is confidential and Hagens Berman agrees to protect information against unauthorized use, publication or disclosure. This site is regulated by the Washington Rules of Professional Conduct.

Back to all cases

Contact:

Please fill out the form below and we will get back to you as soon as we can.
 
*
*
*
*
*
*
File Upload *
Additional Information *
Send me: *
*
*
*
 

Case videos

Case Gallery

Case Timeline

04/30/18: Investigation