A lawsuit was filed on behalf of investors in Chicago Bridge & Iron Company N.V. (NYSE:CBI) shares over alleged securities laws violations and NYSE:CBI investors should contact the Shareholders Foundation.

San Diego, CA -- (SBWire) -- 03/07/2017 --An investor, who purchased shares of Chicago Bridge & Iron Company N.V. (NYSE:CBI), filed a lawsuit in New York over alleged violations of Federal Securities Laws by Chicago Bridge & Iron Company N.V.

Investors who purchased shares of Chicago Bridge & Iron Company N.V. (NYSE:CBI) have certain options and for certain investors are short and strict deadlines running. Deadline: May 1, 2017. NYSE:CBI investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

Through the acquisition of The Shaw Group, Inc Chicago Bridge & Iron Company N.V. acquired contracts to complete construction of two new nuclear power plants in Waynesboro, Georgia and Jenkinsville, South Carolina.

According to the complaint the plaintiff alleges on behalf of purchasers of Chicago Bridge & Iron Company N.V. (NYSE:CBI) common shares between October 29, 2013 and December 10, 2014, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between October 29, 2013 and December 10, 2014, the defendants failed to disclose that Chicago Bridge & Iron Company N.V 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 the Nuclear Projects stated above.

The plaintiff further alleges that Chicago Bridge & Iron Company N.V failed to establish and disclose an appropriate reserve for this liability in its financial statements and Chicago Bridge & Iron Company N.V lacked effective internal controls over financial reporting and that as a result of these false statements and/or omissions, Chicago Bridge & Iron Company N.V stock traded at artificially inflated prices of more than $87 per share between October 29, 2013 and December 10, 2014.

On June 17, 2014, Prescience Point issued a report asserting that Chicago Bridge & Iron Company N.V had improperly accounted for its goodwill during 2013 to cover losses associated with construction delays and cost overruns on the above stated Nuclear Projects.

Between June 2014 and December 2014, in response to the disclosure of additional information relating to the status of the above stated Nuclear Projects and who might be liable for the associated cost overruns and project delays, Chicago Bridge & Iron Company N.V's stock price declined to under $40 per share.

Shares of Chicago Bridge & Iron Company N.V. (NYSE:CBI) declined from $86.87 per share in March 2014 to as low as $26.46 per share in September 2016.

On March 6, 2017, NYSE:CBI shares closed at $31.54 per share.

Those who purchased shares of Chicago Bridge & Iron Company N.V. have certain options and should contact the Shareholders Foundation.

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