Pomerantz LLP is investigating claims on behalf of investors of Micro Focus International plc ("Micro Focus" or the "Company") (NYSE: MFGP). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether Micro Focus and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On March 19, 2018, Micro Focus announced the resignation of its Chief Executive Officer and advised investors that the Company is "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, Micro Focus's share price fell $12.20, or 46.55%, to close at $14.01 on March 19, 2018.