Kessler Topaz Meltzer & Check, LLP Announces Shareholder Class Action Against Kansas City Southern and Reminds Shareholders of Impending Lead Plaintiff Deadline

According to the Complaint, KCS and its executive officers lacked a reasonable basis for making statements during the Class Period regarding the Company's business, operations and earnings because they knew, among other things: (i) that KCS's utility coal volumes were declining below forecasted levels (in addition to the cooler summer and two generating units shutting down earlier than anticipated on October 1, 2013) as other customers were either experiencing problems or closed plants; (ii) that KCS's crude oil shipments were declining below forecasted levels as the Company faced increased competition and oil produced in various regions was directed to locations not serviced by KCS; (iii) that the construction of the Port Arthur crude oil terminal was experiencing operational difficulties which were delaying its completion and the Company's realization of the benefits from the plant; (iv) 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; (v) that the Company's anticipated ramp-up of its Mexican auto shipment business was not advancing to the degree Defendants led the market to believe it was as the new plants were not coming on line and there would be a negligible benefit to the Company's revenues and profits in 2014; and (vi) that Mexican government officials were privately clamoring to control the tariffs and/or curtail the exclusivity provided to KCS in Mexico railway shipping under the Concession, exclusivity which the Mexican government was claiming resulted in KCS investing less into railway capital and charging higher shipping prices in Mexico than the market would otherwise provide for absent the Concession.

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP (Darren J. Check, Esq., D. Seamus Kaskela, Esq. or Adrienne O. Bell, Esq.) at (888) 299-7706 or (610) 667-7706, or via e-mail at info@ktmc.com.  The complaint in this action was not filed by Kessler Topaz Meltzer & Check. For additional information about this lawsuit, or to request information about this action, please visit http://www.ktmc.com/cases_details.php?id=201. 

Members of the class may, no later than June 16, 2014, move the Court to serve as a lead plaintiff of the class.  A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation.  In order to be appointed as a lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Your ability to share in any recovery is not, however, affected by the decision of whether or not to serve as a lead plaintiff.  Any member of the purported class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. 

Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country.  Kessler Topaz Meltzer & Check is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world.  The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars).  For more information about Kessler Topaz Meltzer & Check, or for additional information about participating in this action, please visit www.ktmc.com.

CONTACT:

Kessler Topaz Meltzer & Check, LLP
Darren J. Check, Esq.
D. Seamus Kaskela, Esq.
Adrienne O. Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
(888) 299-7706 or (610) 667-7706
info@ktmc.com

SOURCE Kessler Topaz Meltzer & Check, LLP