NEW YORK, Aug. 15, 2017 /PRNewswire/ -- Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a boutique securities firm headquartered at the Empire State Building in New York City announces that a class action lawsuit has been filed in United States District Court, Southern District of Texas, Houston Division (Case No. 17-cv-02368) against TechnipFMC plc (NYSE: FTI)("TechnipFMC" or the "Company") on behalf of purchasers of the Company's securities between April 27, 2017 and July 24, 2017, inclusive (the "Class Period").
The lawsuit is based on whether TechnipFMC and its executives violated federal securities law by misleading investors by failing to disclose that the Company had a material weakness in its internal control over rates used in the calculations of the foreign currency effects on certain of its engineering and construction projects.
On July 24, 2017, post-market, TechnipFMC issued a press release and filed a Current Report on Form 8-K with the SEC, announcing that the Company would restate its financial statements as of March 31, 2017, as these statements could no longer be relied upon. When this news was released, the Company's stock price fell materially, which harmed investors according to the Complaint.
Mr. Monteverde would like to personally discuss with you how to potentially recover your monetary losses, if incurred during the Class Period.
If you wish to serve as lead plaintiff, you must move the Court no later than October 2, 2017. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Monteverde & Associates PC is a boutique class action securities and consumer litigation law firm committed that has recovered millions of dollars and is committed to protecting shareholders and consumers from corporate wrongdoing. Monteverde & Associates PC lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions, whereby they protect investors by recovering money and remedying corporate misconduct.
Contact: Juan E. Monteverde, Esq. MONTEVERDE & ASSOCIATES PC The Empire State Building 350 Fifth Ave, Suite 4405 New York, NY 10118 United States of America [email protected] Tel: (212) 971-1341
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