The Law Offices of Nicholas Koluncich III, LLC Announces Investigation of McDermott International, Inc.

  The Law Offices of Nicholas Koluncich III, LLC Announces Investigation of
  McDermott International, Inc.

Business Wire

ALBUQUERQUE, N.M. -- August 27, 2013

The Law Offices of Nicholas Koluncich III, LLC is investigating possible
breaches of fiduciary duty by the Board of Directors of McDermott
International, Inc. (NYSE: MDR) (“McDermott,” “the Company” or “MDR”) relating
to its recent disclosure of materially adverse financial results for the last
fiscal quarter. If you own or owned McDermott shares or have any questions
concerning your rights or interests with respect to MDR, please contact The
Law Offices of Nicholas Koluncich III, LLC. In summary, McDermott’s August 5,
2013 Press Release and Quarterly Report on Form 10-Q, filed with the SEC,
disclosed a $0.63 loss per fully diluted share. This adverse information,
following as it did positive net income figures for the previous quarter,
precipitated a 20% decline in share price in the next two trading days. This
loss has yet to be fully recovered. This decline followed MDR’s announcement
of:

  *“weakness … in [MDR’s] project bidding and execution;”
  *management “problems” and “issues;”
  *substantial restructuring costs for its Atlantic operations; and
  *“operating losses in its Middle East, Asia Pacific segments.”

The “retire[ment]” of MDR’s COO, John T. McCormack, was also announced at the
time, but in a separate press release. Lawsuits have been filed which may
affect your rights as a MDR shareholder. The lawsuits allege, in summary, that
McDermott insiders made false and misleading statements and/or failed to
disclose the problems specified above. To participate or to have your voice
heard in a lawsuit concerning these adverse disclosures or to discuss this
matter with an attorney at no cost to you, you are encouraged to swiftly
contact us at the telephone number below.

If you own McDermott shares or have any questions concerning your rights or
interests with respect to the MDR lawsuit, please contact The Law Offices of
Nicholas Koluncich III, LLC. The initial attorney consultation is free of
charge and all information shall be treated as attorney client privileged and
confidential. Although the outcome of litigation is never assured, as a
McDermott shareholder, you may be eligible for some form of financial
recovery.

The Law Offices of Nicholas Koluncich III, LLC
6501 Americas Parkway NE
One Park Square – Suite 820
Albuquerque, NM 87110
(505) 881-2228
FAX (505) 881-4288
nkoluncich@newmexicoclassactions.com

The Law Offices of Nicholas Koluncich III, LLC has been representing
individual and institutional investors for over a decade, serving as counsel
in numerous securities and derivative litigations in U.S. federal and state
courts.

Contact:

The Law Offices of Nicholas Koluncich III, LLC
Nicholas Koluncich, 505-881-2228
fax: 505-881-4288
nkoluncich@newmexicoclassactions.com
 
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