SHAREHOLDER ALERT: Pomerantz Law Firm Has Filed a Class Action Against McDermott International, Inc. and Certain Officers - MDR

SHAREHOLDER ALERT: Pomerantz Law Firm Has Filed a Class Action Against 
McDermott International, Inc. and Certain Officers - MDR 
NEW YORK, NY -- (Marketwired) -- 10/11/13 --  Pomerantz Grossman
Hufford Dahlstrom & Gross LLP has filed a class action lawsuit
against McDermott International, Inc. ("McDermott" or the "Company")
(NYSE: MDR) and certain of its officers. The class action, filed in
United States District Court, Southern District of Texas, and
docketed under 13-cv-2442, is on behalf of a class consisting of all
persons or entities who purchased or otherwise acquired securities of
McDermott between November 6, 2012 and August 5, 2013 both dates
inclusive (the "Class Period"). This class action seeks to recover
damages against the Company and certain of its officers and directors
as a result of alleged violations of the federal securities laws
pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act
of 1934 and Rule 10b-5 promulgated thereunder. 
If you are a shareholder who purchased McDermott securities during
the Class Period, you have until October 15, 2013 to ask the Court to
appoint you as Lead Plaintiff for the class. A copy of the Complaint
can be obtained at www.pomerantzlaw.com. To discuss this action,
contact Robert S. Willoughby at rswilloughby@pomlaw.com or
888.476.6529 (or 888.4-POMLAW), toll free, x237. Those who inquire by
e-mail are encouraged to include their mailing address, telephone
number, and number of shares purchased. 
McDermott is an engineering, procurement, construction and
installation ("EPCI") company focused on executing complex offshore
oil and gas projects worldwide. The Company provides integrated EPCI
services for upstream field developments including, fixed and
floating production facilities, pipelines and subsea systems from
concepts to commissioning. McDermott operates in approximately 20
countries across the Atlantic, Middle East and Asia Pacific area.  
The Complaint alleges that throughout the Class Period, Defendants
made false and misleading statements and/or failed to disclose that:
(a) the Company was experiencing weakness in its project bidding and
execution; (b) the Company was engaging in poor risk evaluation; (c)
the Company had been experiencing poor project management; (d) the
Company was experiencing material losses in its Middle East, Asia
Pacific and Atlantic segments; and (e) based upon the above, the
Defendants lacked a reasonable basis for their positive statements
about the Company during the Class Period.  
On August 5, 2013 the Company issued a press release, reporting the
Company's second quarter financial and operating results for the
quarter ending June 30, 2013, stating a substantial decrease in the
Company's year-over-year financial results which the Company
attributed to poor performance of several significant projects in the
Middle East and Asia Pacific segment along with underutilization of
assets in the Company's Atlantic segment. The Company additionally
disclosed that it was taking immediate action to correct "weaknesses"
in its "project bidding and execution" and that management was
putting in place four initiatives in order to create a "more
disciplined culture within the Company" to deliver adequate return on
the Company's investors' capital. On this news, McDermott shares
declined $1.80 per share or over 19%, to close at $6.93 per share on
August 6, 2013. 
The Pomerantz Firm, with offices in New York, Chicago, Florida, and
San Diego, is acknowledged as one of the premier firms in the areas
of corporate, securities, and antitrust class litigation. Founded by
the late Abraham L. Pomerantz, known as the dean of the class action
bar, the Pomerantz Firm pioneered the field of securities class
actions. Today, more than 70 years later, the Pomerantz Firm
continues in the tradition he established, fighting for the rights of
the victims of securities fraud, breaches of fiduciary duty, and
corporate misconduct. The Firm has recovered numerous
multimillion-dollar damages awards on behalf of class members. See
www.pomerantzlaw.com. 
CONTACT:
Robert S. Willoughby
Pomerantz Grossman Hufford Dahlstrom & Gross LLP
rswilloughby@pomlaw.com 
 
 
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