A lawsuit was filed on behalf of investors in Kansas City Southern (NYSE:KSU) shares over alleged securities laws violations. Deadline: June 16, 2014. NYSE:KSU investors should contact the Shareholders Foundation at firstname.lastname@example.org
San Diego, CA -- (SBWIRE) -- 05/07/2014 -- An investor, who purchased shares of Kansas City Southern (NYSE:KSU), filed a lawsuit in the U.S. District Court for the Western District of Missouri over alleged violations of Federal Securities Laws by Kansas City Southern in connection with certain allegedly false and misleading statements made between October 18, 2013 and February 18, 2014.
Investors who purchased shares of Kansas City Southern (NYSE:KSU) have certain options and for certain investors are short and strict deadlines running. Deadline: June 16, 2014. NYSE:KSU investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired securities of Kansas City Southern (NYSE:KSU) between October 18, 2013 and February 18, 2014, that Kansas City Southern and certain of its officers and directors violated Federal Securities Laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
More specifically, the plaintiff claims that between October 18, 2013 and February 18, 2014 Kansas City Southern issued materially allegedly false and misleading statements regarding its financial performance and future prospects and allegedly failed to disclose that Kansas City Southern’s utility coal volumes and crude oil shipments were declining below forecasted levels during its 2013 fourth quarter, that the construction of the Company’s new Port Arthur crude oil terminal was experiencing operational difficulties which was delaying its completion and the Company’s realization of the benefits from the plant, that carloads in the Company’s Chemical & Petroleum shipments to Mexico had declined during the fourth quarter of 2013 due to operational issues with the Company’s customers in Mexico, that KCS’s anticipated ramp-up of its Mexican auto shipment business was not advancing to the degree Kansas City Southern led the market to believe, as the new plants were not coming on line and there would be a negligible benefit to Kansas City Southern’s revenues and profits in 2014, and that Mexican government officials were privately clamoring to take back or control the monopoly pricing power Kansas City Southern had by way of an agreement giving Kansas City Southern and another company exclusive use of tracks in Mexico.
On January 24, 2014, Kansas City Southern reported its fourth quarter and full-year results. Kansas City Southern’s annual Total Revenue increased from over $2.23 billion in 2012 to $2.36 billion in 2013, its respective Net Income declined from $377.10 million to $351.40 million. Shares of Kansas City Southern declined from $117.78 per share on January 23, 2014, to $94.91 per share on January 24, 2014 and continued to decline to as low as $91.12 per share.
On May 5, 2014, NYSE:KSU shares closed at $99.35 per share.
Those who purchased shares of Kansas City Southern (NYSE:KSU) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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