Thieler Law Corp advises investors with losses exceeding $100,000 of the January 15, 2019 lead plaintiff deadline in a class action lawsuit filed against McDermott International Inc (NYSE: MDR) (“McDermott” or “the Company”). The suit is pending in the U.S. District Court for the Southern District of Texas and investors, who purchased McDermott International Inc securities between January 24, 2018 and October 30, 2018, have until January 15, 2019 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased McDermott International Inc securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that McDermott was facing strong headwinds and would fail to meet revenue and earnings estimates; there were material problems with the integration of the Chicago Bridge & Iron Company (“CB&I”) business; certain CB&I projects were reasonably likely to incur higher costs; as a result, the fair value of these CB&I projects would be materially impacted; and consequently, defendants’ positive statements about McDermott’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On October 30, 2018, the Company reported financial results for third quarter 2018 that fell far below analysts’ estimates. The Company reported revenues of $2.29 billion, compared to midpoint estimates of $2.51 billion, and earnings per share of $0.20, versus midpoint estimates of $0.29. The Company also reported a $744 million change in the value of certain projects it had acquired from Chicago Bridge & Iron Company. In addition, the Company revealed plans to sell McDermott’s storage tank business and its U.S. pipe fabrication business, as those businesses, “are not core to the Company’s long term strategic objectives.”

If you were negatively impacted by your investment in McDermott International Inc securities between January 24, 2018 and October 30, 2018 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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