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IMPORTANT CHICAGO BRIDGE & IRON COMPANY N.V. INVESTOR ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the Southern District of New York against Chicago Bridge & Iron Company N.V.

Lead Plaintiff Deadline is May 1, 2017

NEW YORK, March 10, 2017 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP  announces that a securities class action has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Chicago Bridge & Iron Company N.V. ("CB&I") (NYSE:CBI) common stock during the period between October 29, 2013 and December 10, 2014 (the "Class Period").   

Investors who have incurred losses in Chicago Bridge & Iron Company N.V. shares are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com. 

If you have purchased shares of Chicago Bridge & Iron Company N.V. within the class period and would like to assist with the litigation process, you may, no later than May 1, 2017, request that the Court appoint you lead plaintiff of the proposed class.

The filed complaint alleges that during the Class Period, defendants made materially false and misleading statements and/or failed to disclose adverse information regarding the Company's business, prospects and financial results. Specifically, the complaint alleges that defendants failed to disclose that CB&I was responsible for hundreds of millions of dollars in liability and had improperly accounted for its goodwill during 2013 to cover losses associated with construction delays and cost overruns on the Nuclear Projects. 

The complaint further alleges that CB&I failed to establish and disclose an appropriate reserve for this liability in its financial statements and CB&I lacked effective internal controls over financial reporting.  As a result of these false statements and/or omissions, CB&I stock traded at artificially inflated prices of more than $87 per share during the Class Period.

On June 17, 2014, Prescience Point issued a report asserting that CB&I had improperly accounted for its goodwill during 2013 to cover losses associated with construction delays and cost overruns on the Nuclear Projects.  On this news, the price of CB&I stock dropped more than 8% to close at $68.19 per share.  Between June 2014 and December 2014, in response to the disclosure of additional information relating to the status of the Nuclear Projects and who might be liable for the associated cost overruns and project delays, the Company's stock price continued to decline to under $40 per share.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.

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Contact:

Wolf Haldenstein Adler Freeman & Herz LLP 
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774

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