Wolf Popper LLP Announces Investigation on Behalf of Investors in McDermott International, Inc.
MCDERMOTT INTL (MDR)
Last mcdermott intl earnings: 11/4 04:15 pm
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US:NYSE Investor Relations:
mcdermott-investors.com/phoenix.zhtml?c=96360&p=irol-calendar_pf
Company Research
Source: PR Newswire
NEW YORK, Jan. 3, 2019 /PRNewswire/ -- Wolf Popper LLP is investigating potential securities claims on behalf of shareholders in McDermott International, Inc. (NYSE: MDR). On October 30, 2018, after the market closed, McDermott disclosed a $744 million change in the value of certain long-term contracts it had acquired as part of its acquisition of Chicago Bridge & Iron Company N.V. ("CB&I"). As a result of this news, McDermott declined $5.14 per share or approximately 40%, to close at $7.73 per share on October 31, 2018.The CB&I acquisition had been approved by shareholders pursuant to a Proxy Statement and shareholder vote. McDermott shareholders as of April 4, 2018 were entitled to vote on the merger. McDermott shares had closed at $20.70 on May 10, 2018, the closing date of the merger. Consequently, those McDermott shareholders who were entitled to vote on the merger lost approximately two-thirds of the value of their shares as a consequence of the merger. McDermott shareholde
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