Law Offices of Howard G. Smith Announces Lead Plaintiff Deadline In The Class Action Lawsuit Against McDermott International,...
28 September 2013 - 5:32AM
Business Wire
Law Offices of Howard G. Smith announces that investors of
McDermott International, Inc. (“McDermott” or the “Company”)
(NYSE:MDR) have until October 15, 2013, to move the Court to serve
as lead plaintiff in the securities fraud class action lawsuit
filed in the United States District Court for the Southern District
of Texas on behalf of a class (the “Class”) comprising all
purchasers of McDermott common stock between November 6, 2012 and
August 5, 2013, inclusive (the “Class Period”).
McDermott operates as an engineering, procurement, construction
and installation company worldwide, focused on designing and
executing complex offshore oil and gas projects. The Complaint
alleges that during the Class Period defendants issued false and
misleading statements or failed to disclose that: (1) the Company
was experiencing weaknesses in its project bidding and execution;
(2) the Company was engaging in poor risk evaluation; (3) the
Company had been experiencing poor project management; (4) the
Company was experiencing material losses in its Middle East, Asia
Pacific and Atlantic segments; and (5) based upon the foregoing,
the defendants lacked a reasonable basis for their positive
statements about the Company during the Class Period.
If you are a member of the Class described above, you have
certain rights and have until October 15, 2013 to move for lead
plaintiff status. To be a member of the Class you need not take any
action at this time; you may retain counsel of your choice or take
no action and remain an absent member of the Class. If you
purchased McDermott shares prior to the Class Period or have any
questions concerning this Notice or your rights or interests with
respect to these matters, please contact Howard G. Smith, Esquire,
of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112,
Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll
Free at (888) 638-4847, or by email to
howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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