The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of Texas on behalf of investors who purchased McDermott International, Inc. (NYSE: MDR) securities between January 24, 2018 and October 30, 2018.
According to the McDermott lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company was facing strong headwinds and would fail to meet revenue and earnings estimates; (2) there were material problems with the integration of the CB&I business; (3) certain CB&I projects were reasonably likely to incur higher costs; (4) as a result, the fair value of these CB&I projects would be materially impacted; and (5) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you suffered a loss in McDermott you have until January 15, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
To receive more information, please fill out the form.