NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Western District of North Carolina on behalf of all persons or entities who purchased or otherwise acquired Babcock & Wilcox Enterprises, Inc. (NYSE:BW) securities between July 1, 2015 and February 28, 2017 (the “Class Period”). Investors have until May 2, 2017 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The Complaint alleges that throughout the Class Period, the Company was experiencing significant, undisclosed problems in its Renewable segment.
On February 28, 2017, Babcock & Wilcox announced its fourth quarter and full year 2016 financial results, announcing a loss of $71.6 million or $1.47 per share in the fourth quarter. Specifically, the Company disclosed a gross loss of $82.6 million in the fourth quarter of 2016 due to its Renewable business.
Following this news, B&W shares declined $6.17 per share, or over 37.3%, on March 1, 2017 to close at $10.33.
If you purchased or otherwise acquired B&W securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact J. Brandon Walker, Esq. by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the B&W lawsuit, please go to www.bespc.com/bw. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.