LOS ANGELES--(BUSINESS WIRE)--Goldberg Law PC, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Babcock & Wilcox Enterprises, Inc. (“BW” or the “Company”) (NYSE: BW). Investors who purchased or otherwise acquired shares between July 1, 2015 and February 28, 2017 inclusive (the “Class Period”), are encouraged to contact the firm prior to the May 2, 2017 lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate. In addition, we encourage you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights free of charge. You can also reach us through the firm’s website at http://www.Goldberglawpc.com, or by email at firstname.lastname@example.org.
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.
The complaint alleges that during the Class Period, BW issued materially false and/or misleading statements and/or failed to disclose issues with the Company’s European renewable contract, including the issues it caused with productivity and schedule issues in other Renewable segment projects; and the effect these issues would have on the Company’s financials and the Company’s ability to meet its guidance. On February 28, 2017, BW disclosed disappointing fourth quarter 2016 results that were below analyst expectations, citing strong declines in its Renewable Energy segment. The Company reported “fourth quarter 2016 revenues of $380.0 million, a decrease of $122.7 million, or 24.4%, compared to the fourth quarter of 2015.” The Company also reported a GAAP loss per share of $1.47 for the fourth quarter of 2016, compared to a loss per share of $0.10 for the fourth quarter of 2015. When this news was announced, shares of BW fell in value, causing investors harm.
Goldberg Law PC represents shareholders around the world and specializes in securities class actions and shareholder rights litigation.
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