SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Class Action Against McDermott International, Inc. & Its Board of Director...
08 Oktober 2013 - 8:31PM
Business Wire
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.
For more information, click here:
http://zlk.9nl.com/mcdermott-international-mdr/.
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.
If you suffered a loss in McDermott you have until October 15,
2013 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 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, Connecticut, 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.
Levi & Korsinsky, LLPJoseph Levi, Esq.Eduard Korsinsky,
Esq.30 Broad Street - 24th FloorNew York, NY 10004Tel: (212)
363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171www.zlk.com
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