McDERMOTT INTERNATIONAL SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Class Action Against McDermott International, Inc....
22 August 2013 - 5:41PM
Marketwired
Levi & Korsinsky announces 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. ("McDermott" or the "Company") (NYSE: MDR)
common stock between November 6, 2012 and August 5, 2013.
Click here to learn more about the investigation http://zlk.9nl.com/mcdermott-international-mdr/, or
call: 877-363-5972. There is no cost or obligation to you.
The complaint alleges that Defendants made false and misleading
statements and/or failed to disclose that the Company: (a) was
experiencing weaknesses in its project bidding and execution; (b)
was engaging in poor risk evaluation; (c) had been experiencing
poor project management; and (d) was experiencing material losses
in its Middle East, Asia Pacific and Atlantic segments. The
complaint further alleges that due to the aforementioned,
Defendants lacked a reasonable basis for their positive statements
about the Company during the Class Period.
On August 5, 2013, McDermott disclosed its second quarter 2013
financial results, noting a substantial decrease in the Company's
year-over-year financial results. The Company further stated it was
"taking immediate and decisive actions to correct the weakness we
have experienced in our project bidding and execution." Shares of
McDermott fell more than 20% the following trading day.
Shareholders of McDermott have until October 15, 2013 to seek
appointment as lead plaintiff. Your ability to share in any
recovery doesn't require that you serve as a lead plaintiff. To
obtain additional information, contact Joseph E. Levi, Esq. either
via email at jlevi@zlk.com or by telephone at (212) 363-7500,
toll-free: (877) 363-5972, or visit http://zlk.9nl.com/mcdermott-international-mdr/.
Levi & Korsinsky is a national firm with offices in New
York, New Jersey, and Washington D.C. The firm has extensive
expertise in prosecuting securities litigation involving financial
fraud, representing investors throughout the nation in securities
and shareholder lawsuits. Attorney advertising. Prior results do
not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard
Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004
Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171
www.zlk.com
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