Cases
Macquarie Infrastructure Corporation (NYSE: MIC)
Securities Class Action
Overview
Overview
- Date:
- 4/26/2018
- Company Name:
- Macquarie Infrastructure Corporation
- Stock Symbol:
- MIC
- Class Period:
- FROM 2/22/2016 TO 2/21/2018
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Southern District of New York
NEW YORK, April 26, 2018 – Bragar Eagel & Squire, P.C. announces to investors that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all persons or entities who purchased or otherwise acquired Macquarie Infrastructure Corporation (NYSE: MIC) securities between February 22, 2016 and February 21, 2018 (the “Class Period”). Investors have until June 25, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The complaint alleges that Defendants misrepresented and concealed material risks facing the IMTT business. Defendants repeatedly emphasized IMTT's "very strong" performance and "high" utilization rates. Defendants touted Macquarie's "good visibility" into "macroeconomic factors influencing supply and demand" as evidence of IMTT's stability, but concealed IMTT's dependence on heavy residual oil, the use of which had been in decline for years.
If you purchased or otherwise acquired Macquarie securities during the Class Period or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
The complaint alleges that Defendants misrepresented and concealed material risks facing the IMTT business. Defendants repeatedly emphasized IMTT's "very strong" performance and "high" utilization rates. Defendants touted Macquarie's "good visibility" into "macroeconomic factors influencing supply and demand" as evidence of IMTT's stability, but concealed IMTT's dependence on heavy residual oil, the use of which had been in decline for years.
If you purchased or otherwise acquired Macquarie securities during the Class Period or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.