LOS ANGELES, Jan. 07, 2019 (GLOBE NEWSWIRE) -- The Schall Law Firm , a national shareholder rights litigation firm, announces the filing of a class action lawsuit against McDermott International, Inc. (“McDermott” or “the Company”) (NYSE: MDR ) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's shares between January 24, 2018 and October 30, 2018, inclusive (the ''Class Period''), are encouraged to contact the firm before January 15, 2019.
If you are a shareholder who suffered a loss, click here to participate .
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com , or by email at brian@schallfirm.com .
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. McDermott failed to inform investors that it was facing stiff competition and market factors likely to result in missing revenue and profit estimates. At the same time, the Company was having problems integrating with Chicago Bridge & Iron. The CB&I projects were likely to run over budget with higher expenses than anticipated, which were likely to materially impact the value of the projects. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about McDermott, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm Brian Schall, Esq., Sherin Mahdavian, Esq., www.schallfirm.com 310-301-3335 Cell: 424-303-1964 info@schallfirm.com
SOURCE:
The Schall Law Firm
