McDermott Shareholder Alert: Briscoe Law and Powers Taylor Investigate
Possible Breaches of Fiduciary Duty by Officers and Directors
DALLAS -- August 28, 2013
Former United States Securities and Exchange Commission attorney Willie
Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation
firm of Powers Taylor, LLP announce that a federal class action lawsuit has
been filed against McDermott International, Inc. (“McDermott” or “Company”)
(NYSE: MDR) and several of its officers and directors for acts taken during
the period of November 6, 2012 to August 5, 2013 (the “Class Period”).
Based upon the allegations in the class action, the firms are investigating
additional legal claims against the officers and Board of Directors of
McDermott. If you are an affected McDermott shareholder and want to learn more
about the lawsuit or join the action, contact Willie Briscoe at The Briscoe
Law Firm, PLLC, (214) 706-9314, or via email at
WBriscoe@TheBriscoeLawFirm.com, or Zach Groover at Powers Taylor, LLP, toll
free (877) 728-9607, via e-mail at firstname.lastname@example.org. There is no
cost or fee to you.
In the complaint, the defendants are alleged to have violated certain
provisions of the Securities Exchange Act of 1934. Specifically, the complaint
alleges that defendants misrepresented and/or failed to disclose that, among
other things: (a) McDermott’s project bidding and execution was experiencing
weaknesses; (b) McDermott was practicing poor risk evaluation; (c) McDermott
had been experiencing poor project management; (d) McDermott was experiencing
material losses in its Middle East, Asia Pacific and Atlantic segments; and
(e) due to the above, the Defendants lacked a reasonable basis for their
positive statements regarding the Company during the class period. According
to this complaint, when this information was revealed to the market, the
Company’s Class members suffered significant losses and damages.
The Briscoe Law Firm, PLLC is a full service business litigation, commercial
transaction, and public advocacy firm with more than 20 years of experience in
complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of
complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits, and
security class actions.
The Briscoe Law Firm, PLLC
Willie Briscoe, 214-706-9314
Powers Taylor, LLP
Zach Groover, 877-728-9607
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