STEVENSON, Md., April 16, 2014 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Western District of Missouri on behalf of purchasers of Kansas City Southern ("KCS" or the "Company") (NYSE:KSU) securities during the period between October 18, 2013 and February 18, 2014, inclusive (the "Class Period").
If you have suffered a loss from investment in KCS securities purchased on or after October 18, 2013 and held through the revelation of negative information during and/or at the end of the Class Period, and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or financial obligation, click here: http://www.browerpiven.com/securitiesfraudcases.html.
You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616. Attorneys at Brower Piven together have more than a century of experience litigating securities and other class action cases.
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than June 16, 2014 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company units during the Class Period.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants' failure to disclose during the Class Period that KCS's utility coal volumes and crude oil shipments were declining below forecasted levels, that there were difficulties with construction of the Company's Port Arthur crude oil terminal, that the Company's chemical and petroleum shipments to Mexico declined during the fourth quarter of 2013, that KCS's anticipated ramp-up of its Mexican auto shipment business was not advancing to the degree KCS led the market to believe, and that Mexican government officials were privately working to take back or control KCS's monopoly pricing power in Mexico.
According to the complaint, following the Company's January 24, 2014 announcement that the Company's fourth quarter and fiscal 2013 net income and projected growth was below that the investment community had been led to expect and the February 18, 2014 revelation that the lower house of the Mexican legislature had approved a new bill to increase rail competition in Mexico by giving third-party companies access to KCS's exclusive freight and passenger rail networks and to give the government control over tariffs, the value of KCS shares declined significantly.
If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.