A lawsuit was filed on behalf of investors in McDermott International (NYSE:MDR) shares over alleged securities laws violations. Deadline: October 15, 2013. NYSE:MDR investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com

San Diego, CA -- (SBWire) -- 08/27/2013 --An investor, who purchased shares of McDermott International (NYSE:MDR), filed a lawsuit in the U.S. District Court for the Southern District of Texas over alleged violations of Federal Securities Laws by McDermott International in connection with certain allegedly false and misleading statements made between November 6, 2012 and August 5, 2013.

Investors who purchased a significant amount of shares of McDermott International (NYSE:MDR) between November 6, 2012 and August 5, 2013, and / or those who purchased NYSE:MDR shares prior to November 2012 and currently hold any of those shares, have certain options and for certain investors are short and strict deadlines running. Deadline: October 15, 2013. NYSE:MDR investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges, on behalf of all persons or entities who purchased or otherwise acquired securities of McDermott International (NYSE:MDR) between November 6, 2012 and August 5, 2013, that McDermott International and certain of its officers and directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.

More specifically , the plaintiff alleges that the Defendants made false and misleading statements and/or failed to disclose that McDermott International was experiencing weaknesses in its project bidding and execution, that McDermott International was engaging in poor risk evaluation, that McDermott International had been experiencing poor project management, that McDermott International was experiencing material losses in its Middle East, Asia Pacific and Atlantic segments, and that based upon the above, the Defendants lacked a reasonable basis for their positive statements about McDermott International between November 6, 2012 and August 5, 2013.

Shares of McDermott International (NYSE:MDR) traded in 2011 as high as $25.53 per share and declined to $10.60 per share on November 2, 2012.

On November 5, 2012, McDermott International reported its third quarter 2012 financial results.

Shares of McDermott International (NYSE:MDR) grew from $9.83 per share on November 16, 2012, to $13.47 per share on February 8, 2013.

On February 28, 2013, McDermott International reported its fourth quarter 2012 financial results. McDermott International reported that its annual Total revenue rose from over $3.44 billion in 2011 to over $3.64 billion in 2012 and that its Net Income increased from $138.73 million in 2011 to $206.65 million in 2012.

On May 8, 2013, McDermott International reported that its first quarter 2013 financial results. Its first quarter Total Revenue was $807.49 million and its first quarter 2013 Net Income was $20.55 million.

Then on August 5, 2013, McDermott International reported its second quarter 2013 financial results. McDermott International reported that its second quarter Revenue declined from $889.25 million in 2012 to $647.25 million in 2013 and that its second quarter Net Income of $52.74 million in 2012 turned into a second quarter Net Loss of $149.42 million in 2013.

Shares of McDermott International (NYSE:MDR) declined from $8.73 per share on August 2, 2013, to $6.70 on August 7, 2013.

On August 26, 2013, NYSE:MDR shares closed at 7.62 per share.

Those who purchased shares of McDermott International (NYSE:MDR), have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com