NEW YORK--(BUSINESS WIRE)--
Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Macquarie Infrastructure Corporation (NYSE: MIC) from February 22, 2016 through February 21, 2018, both dates inclusive (the “Class Period”). The lawsuit seeks to recover damages for Macquarie investors under the federal securities laws.
To join the Macquarie class action, go to http://www.rosenlegal.com/cases-1331.html or call Phillip Kim, Esq. or Zachary Halper, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, defendants during the Class Period made materially false and/or misleading statements and/or failed to disclose that: (1) Macquarie’s International-Matex Tank Terminals’ (“IMTT”) performance and utilization were at risk of significant decline due to ongoing industrywide changes in the market for heavy residual oils, and in particular, declining demand and pricing for No. 6 fuel oil; (2) IMTT relied significantly on demand for storage of heavy residual fuel oils, including No. 6 fuel oil; and (3) Macquarie needed to undertake significant capital expenditures to repurpose IMTT storage tanks to accommodate alternative products. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 25, 2018. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-1331.html to join the class action. You may also contact Phillip Kim or Zachary Halper of Rosen Law Firm toll free at 866-767-3653 or via email at [email protected] or [email protected].
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. The Rosen Law Firm was Ranked No. 1 by Institutional Shareholder Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013.
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