This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Law Offices Of Howard G. Smith Announces Class Action Lawsuit Against McDermott International, Inc.

Law Offices of Howard G. Smith 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”) (NYSE:MDR) between November 6, 2012 and August 5, 2013, inclusive (the “Class Period”).

McDermott is focused on designing and executing complex offshore oil and gas projects worldwide. 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.

On August 5, 2013 the Company reported a substantial decrease in the Company’s second quarter year-over-year financial results, which it attributed to poor performance of several projects in the Middle East and Asia Pacific segment, and also disclosed it was taking action to correct “weaknesses” in its project bidding and execution.

No class has yet been certified in this action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased McDermott common stock during the Class Period, you have certain rights, and have until October 15, 2013 to move for lead plaintiff status. To be a member of the class you need not take any action at this time or you may retain counsel of your choice. If you purchased McDermott shares prior to the Class Period and have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,598.20 -91.66 -0.52%
S&P 500 2,098.04 -5.80 -0.28%
NASDAQ 5,115.3820 -12.8990 -0.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs