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Apr 27, 2017 11:37 AM ET

The Klein Law Firm Reminds Shareholders of the Commencement of a Class Action on Behalf of CBI Shareholders and a Lead Plaintiff Deadline of May 1, 2017

Legal Newswire iCrowdNewswire - Apr 27, 2017

NEW YORK — The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of  Chicago Bridge & Iron Company N.V. (NYSE:CBI) who purchased shares between October 29, 2013 and December 10, 2014. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.

In particular, the complaint alleges that throughout the Class Period, defendants made 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) the Company failed to establish and disclose an appropriate reserve for this liability in its financial statements; and (iii) the Company lacked effective internal controls over financial reporting.

Shareholders have until May 1, 2017 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.

If you suffered a loss during the class period and wish to obtain additional information, please contact Joseph Klein, Esq. by telephone at 212-616-4899 or visit http://www.kleinstocklaw.com/pslra-sa/chicago-bridge-iron-company-n-v?wire=1.

Joseph Klein, Esq. is an experienced attorney and has also practiced as a Certified Public Accountant. Mr. Klein represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Joseph Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
Telephone: (212) 616-4899
Fax: (347) 558-9665
www.kleinstocklaw.com
Contact Information:

Joseph Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
Telephone: (212) 616-4899
Fax: (347) 558-9665
www.kleinstocklaw.com

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