Wolf Popper LLP Announces Investigation on Behalf of Investors in McDermott International, Inc.

Wolf Popper LLP Announces Investigation on Behalf of Investors in McDermott International, Inc.

PR Newswire

NEW YORK, Jan. 3, 2019 /PRNewswire/ -- Wolf Popper LLP is investigating potential securities claims on behalf of shareholders in McDermott International, Inc. (NYSE: MDR). 

On October 30, 2018, after the market closed, McDermott disclosed a $744 million change in the value of certain long-term contracts it had acquired as part of its acquisition of Chicago Bridge & Iron Company N.V. ("CB&I").  As a result of this news, McDermott declined $5.14 per share or approximately 40%, to close at $7.73 per share on October 31, 2018.

The CB&I acquisition had been approved by shareholders pursuant to a Proxy Statement and shareholder vote.  McDermott shareholders as of April 4, 2018 were entitled to vote on the merger. McDermott shares had closed at $20.70 on May 10, 2018, the closing date of the merger.  Consequently, those McDermott shareholders who were entitled to vote on the merger lost approximately two-thirds of the value of their shares as a consequence of the merger. 

McDermott shareholders should contact Fei-Lu Qian at 877.370.7703 or at [email protected]

Wolf Popper has successfully recovered billions of dollars for defrauded investors.  The firm's reputation and expertise have been repeatedly recognized by the courts, which have appointed the firm to major positions in securities litigation.  See www.wolfpopper.com.

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Wolf Popper LLP
Fei-Lu Qian
845 Third Avenue
New York, NY 10022
Tel.: 877.370.7703
Fax: 877.370.7704
Email: [email protected]

 

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SOURCE Wolf Popper LLP

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