Chicago Bridge and Iron
Practice Area: Securities SuccessCohen Milstein was co-lead counsel for the plaintiff class in this securities fraud class action which alleged that Chicago Bridge & Iron Co., N.V. securities issued numerous materially false and misleading statements which caused CB&I’s securities to trade at artificially inflated prices as well as alleging that the Defendants sold millions of dollars worth of CB&I securities at artificially inflated prices.
The Court denied Defendants’ motions to dismiss in their entirety. Thereafter, while Plaintiffs’ motion for class certification was pending, the Parties entered into a Stipulation and Agreement of Settlement in which Defendants agreed to pay $10,500,000 in cash and enact certain corporate governance reforms.