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 shares announced by Shareholders Foundation - EconoTimes)
SAN DIEGO, April 03, 2017 -- The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain purchasers of shares of Babcock & Wilcox Enterprises Inc (NYSE:BW) over alleged Securities Laws Violations by Babcock & Wilcox Enterprises Inc.
Investors, who purchased shares of Babcock & Wilcox Enterprises Inc (NYSE:BW), have certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 - 1554.
On July 1, 2015, Babcock & Wilcox Enterprises Inc (“B&W”) began trading independently as a public company after spinning off from The Babcock & Wilcox Company by way of distribution of shares of B&W common stock to holders of the Company's former parent. The distribution of B&W common stock was made on June 30, 2015, and consisted of one share of B&W common stock for every two shares of the former parent's common stock as of the record date, June 18, 2015. Cash was paid in lieu of any fractional shares of B&W common stock.
The plaintiff alleges on behalf of certain purchasers of B&W common shares that between July 1, 2015 and February 28, 2017, the Company was experiencing significant, undisclosed problems in its Renewable segment.
The plaintiff claims 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."
Shares of Babcock & Wilcox Enterprises Inc (NYSE:BW) declined from $22.85 in April 2016 to as low as $8.54 per share on March 22, 2017.
Those who purchased Babcock & Wilcox Enterprises Inc 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 [email protected] 3111 Camino Del Rio North Suite 423 San Diego, CA 92108
