NEW YORK--(BUSINESS WIRE)--The Law Offices of Vincent Wong notifies investors of an investigation concerning whether TechnipFMC plc (“TechnipFMC”) (NYSE: FTI) violated federal securities laws.
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On July 24, 2017, TechnipFMC announced that its “unaudited interim condensed consolidated U.S. GAAP financial statements as of March 31, 2017 and for the three months ended March 21, 2017 included in the Company’s Quarterly Report on Form 10-Q and prior year period prepared and included in the Company’s Quarterly Report for comparison purposes for the quarter ended March 31, 2017” must be restated and that these statements could no longer be relied upon. TechnipFMC concluded that errors existed “within certain rates used in the calculations of the foreign currency effects on certain of its engineering and construction projects…” As a result, the net income attributable to the Company in the quarter ending March 31, 2017, was overstated by $209.5 million.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.