McDermott Shareholder Alert: Briscoe Law and Powers Taylor Investigate Possible Breaches of Fiduciary Duty by Officers and Directors
DALLAS--(BUSINESS WIRE)-- 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") (NYS: 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.
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The article McDermott Shareholder Alert: Briscoe Law and Powers Taylor Investigate Possible Breaches of Fiduciary Duty by Officers and Directors originally appeared on Fool.com.
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