NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Micro Focus International plc (NYSE: MFGP) resulting from allegations that Micro Focus may have issued materially misleading business information to the investing public.
On March 19, 2018, Micro Focus announced that: (1) its Chief Executive Officer had resigned, effective immediately; (2) “the rate of year-on-year revenue decline has been greater than anticipated” since its January 8, 2018 interim results; and (3) accordingly, Micro Focus was “issuing revised constant currency revenue guidance for the twelve months ending 31 October 2018 of minus 6% to minus 9% compared to the pro forma 12 months ending 31 October 2017. This updates revenue guidance of minus 2% to minus 4% provided at the interim results on 8 January 2018.” On this news, shares of Micro Focus fell $12.20 or over 46% to close at $14.01 per share on March 19, 2018.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Micro Focus investors. If you purchased shares of Micro Focus please visit the firm’s website at http://www.rosenlegal.com/cases-1345.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 firstname.lastname@example.org or email@example.com.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm.
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013.
Attorney Advertising. Prior results do not guarantee a similar outcome.