LOS ANGELES--(BUSINESS WIRE)--Lundin Law PC, a shareholder rights firm announces a class action lawsuit against Babcock & Wilcox (“Babcock” or the “Company”) (NYSE: BW). Investors who purchased or otherwise acquired Babcock shares between July 1, 2015, and February 28, 2017, inclusive (the “Class Period”), are encouraged to contact the firm in advance of the May 2, 2017 lead plaintiff deadline.
No class has been certified in the above action yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
On March 1, 2017, Babcock & Wilcox revealed poor fourth quarter 2016 results, reporting “fourth quarter 2016 revenues of $380.0 million, a decrease of $122.7 million, or 24.4%, compared to the fourth quarter of 2015. GAAP earnings per share for the fourth quarter of 2016 were a loss of $1.47 compared to a loss per share of $0.10 for the fourth quarter of 2015.” When this information was revealed to the public, Babcock stock dropped, causing investors harm.
Lundin Law PC was established by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders' rights.
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