Case Information: McDermott International, Inc.

This case covers all purchasers of the common stock of McDermott International, Inc. (“McDermott”) during the period from February 27, 2008 through November 5, 2008.
 
Izard Nobel LLP was appointed as Lead Counsel by the United States District Court for the Southern District of New York on March 6, 2009.  The Complaint alleges that McDermott, an international engineering and construction services company, and certain of its officers and directors violated federal securities laws. Specifically, McDermott concealed that its three large, ongoing construction contracts for the installation of marine oil and gas pipelines off the coast of were substantially delayed and that the delays caused the Company to incur major losses on those contracts.   

On April 14, 2009 this case was transfered to the United States District Court for the Southern District of Texas.  On May 26, 2009, Plaintiffs filed a Consolidated Complaint.  On July 1, 2009 Defendants filed a Motion to Dismiss the Consolidated Complaint and Plaintiffs filed an Opposition to the Motion on August 3, 2009.

On March 26, 2010, the Court granted the Defendants' Motion to Dismiss the Complaint without prejudice and gave the Plaintiffs the opportunity to file an amended complaint.  On April 30, 2010, Plaintiffs filed a motion to ammend the Complaint.  On May 21, 2010, the Defendants filed an Opposion to Plaintifs' Motion to Ammend.