LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of 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.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. 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.
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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 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.
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