SAN DIEGO, March 1, 2017 /PRNewswire/ -- Shareholder Rights Law Firm Johnson & Weaver, LLP today announced that it is investigating whether certain officers or directors of Babcock & Wilcox Enterprises, Inc. (NYSE: BW violated state or federal laws. Babcock & Wilcox provides energy and environmental technologies and services for the power and industrial markets worldwide.
On March 1, 2017, Babcock & Wilcox announced fourth quarter 2016 revenues of $380.0 million, a decrease of $122.7 million, or 24.4%, compared to the fourth quarter of 2015. GAAP earnings per share for the fourth quarter of 2016 were a loss of $1.47 compared to a loss per share of $0.10 for the fourth quarter of 2015. On this news, the Company's stock price plummeted 40% in early morning trading on March 1, 2017.
Specifically, Johnson & Weaver's investigation will seek to determine if certain of Babcock & Wilcox's statements regarding its business and prospects were false or misleading when made.
If you have information that could assist in this investigation, including past employees and others, or if you are a Babcock & Wilcox shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (firstname.lastname@example.org) by email or phone at 619-814-4471. If emailing, please include a phone number.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
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SOURCE Johnson & Weaver, LLP