McDERMOTT INTERNATIONAL SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces
Class Action Against McDermott International, Inc. and Its
Board of Directors and a Lead Plaintiff Deadline of October 15, 2013
NEW YORK, NY -- (Marketwired) -- 08/22/13 -- Levi & Korsinsky
announces that a class action lawsuit has been commenced in the
United States District Court for the Southern District of Texas on
behalf of investors who purchased McDermott International, Inc.
("McDermott" or the "Company") (NYSE: MDR) common stock between
November 6, 2012 and August 5, 2013.
Click here to learn more about the investigation
http://zlk.9nl.com/mcdermott-international-mdr/, or call:
877-363-5972. There is no cost or obligation to you.
The complaint alleges that Defendants made false and misleading
statements and/or failed to disclose that the Company: (a) was
experiencing weaknesses in its project bidding and execution; (b) was
engaging in poor risk evaluation; (c) had been experiencing poor
project management; and (d) was experiencing material losses in its
Middle East, Asia Pacific and Atlantic segments. The complaint
further alleges that due to the aforementioned, Defendants lacked a
reasonable basis for their positive statements about the Company
during the Class Period.
On August 5, 2013, McDermott disclosed its second quarter 2013
financial results, noting a substantial decrease in the Company's
year-over-year financial results. The Company further stated it was
"taking immediate and decisive actions to correct the weakness we
have experienced in our project bidding and execution." Shares of
McDermott fell more than 20% the following trading day.
Shareholders of McDermott have until October 15, 2013 to seek
appointment as lead plaintiff. Your ability to share in any recovery
doesn't require that you serve as a lead plaintiff. To obtain
additional information, contact Joseph E. Levi, Esq. either via email
at email@example.com or by telephone at (212) 363-7500, toll-free: (877)
363-5972, or visit http://zlk.9nl.com/mcdermott-international-mdr/.
Levi & Korsinsky is a national firm with offices in New York, New
Jersey, and Washington D.C. The firm has extensive expertise in
prosecuting securities litigation involving financial fraud,
representing investors throughout the nation in securities and
shareholder lawsuits. Attorney advertising. Prior results do not
guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
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