LOS ANGELES, Sept. 29, 2017 /PRNewswire/ — Goldberg Law PC, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against TechnipFMC plc (“TechnipFMC” or the “Company”) (NYSE: FTI) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company’s shares between April 27, 2017 and July 24, 2017, inclusive (the “Class Period”), are encouraged to contact the firm before October 2, 2017, the lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate.
We also encourage you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights free of charge. You can also reach us through the firm’s website at http://www.goldberglawpc.com/, or by email at firstname.lastname@example.org.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Complaint alleges that during the Class Period, TechnipFMC made materially false and/or misleading statements, and/or failed to disclose material information, about its business, operations and compliance policies. On July 24, 2017, the Company revealed that its audit committee concluded that the financial statements included in its quarterly report for the three months ended March 31, 2017 and prior year prepared and included in the quarterly report for comparison purposes, should no longer be relied upon because of material errors. TechnipFMC further stated that errors existed within “certain rates used in the calculations of the foreign currency effects on certain of its engineering and construction projects” resulting in its net income for the quarter ending March 31, 2017 being overstated by $209.5 million. Thus, the Company lacked effective internal controls over financial reporting. When this news was announced, TechnipFMC’s stock price fell materially, which caused investors harm.
Goldberg Law PC represents investors around the world, and specializes in securities class action lawsuits and shareholder rights litigation.
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SOURCE Goldberg Law PC