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 September 20, 2019 and January 23, 2020.
The McDermott lawsuit was filed against McDermott's President, Chief Executive Officer and Board Member David Dickson, its Former Executive Vice President and Chief Financial Officer Stuart A. Spence, and its Executive Vice President and Chief Financial Officer Christopher A. Krummel. Allegations include that defendants made and caused McDermott to make materially false and/or misleading statements and/or failed to disclose material facts regarding the Company's sale of its asset Lummus Technology. Plaintiffs allege that these statements were made with the intent to conceal the acute liquidity crisis McDermott actually faced, to provide the Company time to prepare a prepackaged plan of reorganization with its secured lenders and other stakeholders, and to avoid a freefall Chapter 11 filing.
If you suffered a loss in McDermott you have until September 16, 2020 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.
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