LOS ANGELES, CA / ACCESSWIRE / March 29, 2017 / Lundin Law PC , a shareholder rights firm, announces a class action lawsuit against Chicago Bridge & Iron Company N.V. ("Chicago Bridge" or the "Company") (CBI) concerning possible violations of federal securities laws between October 29, 2013 and December 10, 2014 inclusive (the "Class Period"). Investors who purchased or otherwise acquired shares during the Class Period should contact the firm in advance of the May 1, 2017 lead plaintiff motion deadline.
No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
According to the Complaint, during the Class Period, Chicago Bridge made material false and/or misleading statements and/or failed to disclose: that the Company was responsible for hundreds of millions of dollars in liability and improperly accounted for its goodwill during 2013 to cover losses associated with construction delays and cost overruns on contracts; that the Company failed to establish and disclose an appropriate reserve for this liability in its financial statements; and that Chicago Bridge lacked effective internal controls over financial reporting. When this news was released to the public, the stock price of Chicago Bridge declined, causing investors harm.
Lundin Law PC was established by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding the rights of shareholders.
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SOURCE: Lundin Law PC