LOS ANGELES--(BUSINESS WIRE)--
Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court for the Southern District of Texas on behalf of a class (the “Class”) comprising all purchasers of the common stock of McDermott International, Inc. (“McDermott” or the “Company”) (MDR) between November 6, 2012 and August 5, 2013, inclusive (the “Class Period”).
A COPY OF THE COMPLAINT IS AVAILABLE FROM THE COURT OR FROM GLANCY BINKOW & GOLDBERG LLP. PLEASE CONTACT US TOLL-FREE AT (888) 773-9224, OR AT (212) 682-5340, OR BY EMAIL TO SHAREHOLDERS@GLANCYLAW.COM TO DISCUSS THIS MATTER OR IF YOU PURCHASED MCDERMOTT SHARES PRIOR TO THE CLASS PERIOD. IF YOU INQUIRE BY EMAIL PLEASE INCLUDE YOUR MAILING ADDRESS, TELEPHONE NUMBER AND NUMBER OF SHARES PURCHASED.
McDermott operates as an engineering, procurement, construction and installation company worldwide, focused on designing and executing complex offshore oil and gas projects. The Complaint alleges that during the Class Period defendants issued false and misleading statements or failed to disclose that: (1) the Company was experiencing weaknesses in its project bidding and execution; (2) the Company was engaging in poor risk evaluation; (3) the Company had been experiencing poor project management; (4) the Company was experiencing material losses in its Middle East, Asia Pacific and Atlantic segments; and (5) based upon the foregoing, the defendants lacked a reasonable basis for their positive statements about the Company during the Class Period.
If you are a member of the Class described above you may move the Court no later than October 15, 2013 to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class.
If you wish to learn more about this action or if you purchased McDermott shares prior to the Class Period and have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll Free at (888) 773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by e-mail to email@example.com, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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