Warner Bros Discovery Weighs Amended Paramount Skydance Bid as Netflix Takeover Battle Intensifies 
California Regulator Probes Waymo Robotaxi Stalls During San Francisco Power Outage 
Niigata Set to Approve Restart of Japan’s Largest Nuclear Power Plant in Major Energy Shift 
Texas App Store Age Verification Law Blocked by Federal Judge in First Amendment Ruling 
AstraZeneca’s LATIFY Phase III Trial of Ceralasertib Misses Primary Endpoint in Lung Cancer Study 
FDA Approves Mitapivat for Anemia in Thalassemia Patients 
ByteDance Plans Massive AI Investment in 2026 to Close Gap With U.S. Tech Giants 
Eli Lilly and Novo Nordisk Battle for India’s Fast-Growing Obesity Drug Market 
Moore Threads Unveils New GPUs, Fuels Optimism Around China’s AI Chip Ambitions 
Uber and Baidu Partner to Test Robotaxis in the UK, Marking a New Milestone for Autonomous Ride-Hailing 
BP Nears $10 Billion Castrol Stake Sale to Stonepeak 
Italy Fines Apple €98.6 Million Over App Store Dominance 
Boeing Wins $2.04B U.S. Air Force Contract for B-52 Engine Replacement Program 
BlackRock-Backed Global Ports Deal Faces Uncertainty Amid Cosco Demands 
DOJ Reaches Settlement With Blackstone’s LivCor Over Alleged Rent Price-Fixing 
 Plans of Chicago Bridge & Iron Company N.V. (NYSE:CBI) by Stull, Stull & Brody Is Continuing - EconoTimes)
NEW YORK, Sept. 15, 2017 -- Stull, Stull & Brody today announced that a complaint has been filed on behalf of the 401(k) defined contribution plan of Chicago Bridge & Iron Company N.V. ("CBI" or the "Company") (NYSE:CBI). Among other things, the complaint alleges that fiduciaries of CBI's 401(k) plan violated the Employee Retirement Income Security Act of 1974 ("ERISA") by offering CBI stock as an investment option under the plan when it was not prudent to do so and by failing to disclose the Company's true financial and operating condition to participants and beneficiaries of the plan.
If you held CBI stock in an individual account under a Company 401(k) plan during 2013 and 2014 and you have questions about your legal rights or interests with respect to these matters, please contact Michael Klein, Esq. at Stull, Stull & Brody by e-mail at [email protected], by calling 212-687-7230 x147, by fax to 1-212-490-2022, or by writing to Stull, Stull & Brody, 6 East 45th Street, New York, NY 10017. You can also visit our website at www.ssbny.com.
The action filed in the U.S. District Court for the Southern District of New York focuses on whether, since October 29, 2013, the defendants failed to protect the CBI 401(k) Plan from artificial inflation in CBI’s common stock resulting from hundreds of millions of dollars in liability and had improperly accounted for CBI’s goodwill during 2013 to cover losses associated with delays and overruns on the Nuclear Projects. As a result, CBI stock allegedly traded at artificially exaggerated prices of over $87/share during the Class Period, before dropping to under $40/share in late 2014.
You may retain Stull, Stull & Brody, or other counsel of your choice, to represent you. Stull, Stull & Brody has litigated many class actions for violations of ERISA and securities laws in federal courts over the past 40 years and has obtained court approval of substantial settlements on numerous occasions. Stull, Stull & Brody maintains offices in New York and Beverly Hills.
Attorney Advertising. Prior Results Do Not Guarantee A Similar Outcome.
