To join this class action, please complete the following Investor Certification.
Macquarie Infrastructure Corporation [NYSE: MIC] Investor Certification
Oklahoma City, OK (April 26, 2018) – On April 23, 2018, a securities class action lawsuit was filed in the United States District Court for the Southern District of New York against Macquarie Infrastructure Corporation (NYSE: MIC). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is February 22, 2016 through February 21, 2018. More specifically, this litigation was because 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.
Plaintiff seeks to recover damages on behalf of all Macquarie Infrastructure Corporation shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Monday, June 25, 2018 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.