SAN DIEGO, CA / ACCESSWIRE / April 16, 2018 / The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain purchasers of NYSE: BW shares.
Investors, who purchased shares of Babcock & Wilcox Enterprises Inc. (NYSE: BW) in 2015 or earlier and continue to hold any of those NYSE: BW shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On March 3, 2017, 2015, a lawsuit was filed against Babcock & Wilcox Enterprises Inc. over alleged securities laws violations. The plaintiff alleged that the Company was experiencing significant, undisclosed problems in its Renewable segment. The plaintiff claimed that although defendants disclosed issues with a single project in the Renewable business on June 28, 2016, they failed to disclose that similar problems were significantly and negatively impacting other projects in the Company's Renewable segment, instead assuring investors during a business update call that the problems were "a single project issue."
On September 28, 2017, an amended complaint was filed and on November 13, 2017, the defendants filed their motion to dismiss the case. On February 8, 2018, the judge denied the defendants’ motion to dismiss the lawsuit.
On March 15, 2018, Babcock & Wilcox Enterprises Inc. announced that in March 2018, it received a subpoena from the staff of the SEC in connection with an investigation into the accounting charges and related matters involving our Renewable segment in 2016 and 2017.
Those who purchased Babcock & Wilcox Enterprises Inc. (NYSE: BW) shares should contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
SOURCE: Shareholders Foundation, Inc.
