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 -- MDR
NEW YORK, Oct. 1, 2013 (GLOBE NEWSWIRE) -- 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.
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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
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
If you suffered a loss in McDermott you have until October 15, 2013 to request
that the Court appoint you 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
firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or
Levi & Korsinsky is a national firm with offices in New York, New Jersey,
Connecticut, 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.
CONTACT: 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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