McDermott International, Inc.

Case Details

Class Period:
January 24, 2018 – October 30, 2018
Date Filed:
November 15, 2018
Case Number:
4:18-cv-04330
Jurisdiction:
Southern District of Texas

Case Summary

The complaint filed in this action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Companys business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company was facing strong headwinds and would fail to meet revenue and earnings estimates; (2) that there were material problems with the integration of the CB&I business; (3) that certain CB&I projects were reasonably likely to incur higher costs; (4) that, as a result, the fair value of these CB&I projects would be materially impacted; and (5) that, as a result of the foregoing, Defendants positive statements about the Companys business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Action Details

View Complaint (pdf)

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