Law Offices of Howard G. Smith Announces Lead Plaintiff Deadline In The
Class Action Lawsuit Against McDermott International, Inc.
BENSALEM, Pa. -- September 27, 2013
Law Offices of Howard G. Smith announces that investors of McDermott
International, Inc. (“McDermott” or the “Company”) (NYSE:MDR) have until
October 15, 2013, to move the Court to serve as lead plaintiff in the
securities fraud class action lawsuit filed in the United States District
Court for the Southern District of Texas on behalf of a class (the “Class”)
comprising all purchasers of McDermott common stock between November 6, 2012
and August 5, 2013, inclusive (the “Class Period”).
McDermott operates as an engineering, procurement, construction and
installation company worldwide, focused on designing and executing complex
offshore oil and gas projects. 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.
If you are a member of the Class described above, 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; you may retain counsel
of your choice or take no action and remain an absent member of the Class. If
you purchased McDermott shares prior to the Class Period or 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
firstname.lastname@example.org, or visit our website at
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
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