NEW YORK, March 31, 2017 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of Babcock & Wilcox Enterprises, Inc. securities (NYSE: BW ) from July 1, 2015 through February 28, 2017, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Babcock & Wilcox investors under the federal securities laws.
To join the Babcock & Wilcox class action, go to http://www.rosenlegal.com/cases-1065.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
The complaint alleges that defendants during the Class Period made false and misleading statements and/or failed to disclose that: (1) Babcock & Wilcox’s Renewable business had productivity and scheduling issues; (2) these undisclosed problems decreased profit margins and worsened financial performance; (3) Babcock & Wilcox’s Renewable business suffered from problematic on-site project management and a lack of resources in engineering and project management groups, which resulted in overly aggressive project bidding, project delays, and engineering errors; (4) Babcock & Wilcox lacked adequate project management processes in its Renewable business, which negatively impacted performance on key projects from bidding through execution; (5) as a result, defendants’ statements regarding Babcock & Wilcox’s outlook and expected financial performance were false and misleading and lack a reasonable basis when made. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 2, 2017. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-1065.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or kchan@rosenlegal.com .
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. Kevin Chan, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 34th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 lrosen@rosenlegal.com pkim@rosenlegal.com kchan@rosenlegal.com www.rosenlegal.com
