CB&I Comments on Misleading and Inaccurate Report
THE WOODLANDS, Texas, June 17, 2014
THE WOODLANDS, Texas, June 17, 2014 /PRNewswire/ --CB&I (NYSE:CBI) noted
there was unusual trading volume today in its common stock. The activity
appears to be related to the issuance of a report by a short seller
recommending that stockholders sell CB&I stock.
CB&I has reviewed the report and strongly disagrees with its assumptions and
Notably, the report warns readers to assume that the short-selling firm and/or
its affiliates hold short positions in CB&I common stock and that they stand
to realize significant gains in the event that CB&I's stock price declines.
CB&I believes that this conflict of interest should cause the report and its
conclusions to be viewed skeptically.
"CB&I's management team operates our company with the absolute highest
integrity, and we take great issue with erroneous claims such as these," said
Philip K. Asherman, CB&I's President and Chief Executive Officer.
CB&I's second quarter financial results are scheduled to be released in late
July 2014. The company is confirming today that it expects to report results
within the ranges of its current guidance for the year.
CB&I (NYSE:CBI) is the most complete energy infrastructure focused company in
the world and a major provider of government services. With 125 years of
experience and the expertise of approximately 55,000 employees, CB&I provides
reliable solutions while maintaining a relentless focus on safety and an
uncompromising standard of quality. For more information, visit www.cbi.com.
Important Information For Investors And Shareholders
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements regarding CB&I and
represents our expectations and beliefs concerning future events. These
forward-looking statements are intended to be covered by the safe harbor for
forward-looking statements provided by the Private Securities Litigation
Reform Act of 1995. Forward-looking statements involve known and unknown risks
and uncertainties. When considering any statements that are predictive in
nature, depend upon or refer to future events or conditions, or use or contain
words, terms, phrases or expressions such as "achieve," "forecast," "plan,"
"propose," "strategy," "envision," "hope," "will," "continue," "potential,"
"expect," "believe," "anticipate," "project," "estimate," "predict," "intend,"
"should," "could," "may," "might" or similar forward-looking statements, we
refer you to the cautionary statements concerning risk factors and
"Forward-Looking Statements" described under "Risk Factors" in Item 1A of our
Annual Report filed on Form 10-K filed with the SEC for the year ended
December 31, 2013, and any updates to those risk factors or "Forward-Looking
Statements" included in our subsequent Quarterly Reports on Form 10-Q filed
with the SEC, which cautionary statements are incorporated herein by
For more information, visit www.cbi.com
Contact: Media: www.CBI.com, Investors: Christi Thoms +1 832 513 1200
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