NEW YORK, April 24, 2017 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Chicago Bridge & Iron Company N.V. ("Chicago Bridge & Iron") (NYSE:CBI) between October 29, 2013 and December 10, 2014. You are hereby notified that Levi & Korsinsky has commenced the securities class action lawsuit Hubbell v. Chicago Bridge & Iron Company N.V., et al. (Case No. 1:17-cv-02414) in the United States District Court for the Southern District of New York. Click here to view the complaint. To get more information go to:
http://www.zlk.com/pslra-sa/chicago-bridge-iron-company-n-v?wire=3
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) Chicago Bridge was responsible for hundreds of millions of dollars in liability and had improperly accounted for its goodwill during 2013 to cover losses associated with construction delays and cost overruns on contracts to complete construction on two new nuclear power plants; (ii) failed to establish and disclose an appropriate reserve for this liability in its financial statements; and (iii) lacked effective internal controls over financial reporting.
If you suffered a loss in Chicago Bridge & Iron you have until May 1, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.