Case Page

 

Case Status:    DISMISSED    
On or around 05/01/2001 (Other)

Filing Date: December 21, 1999

According to the Company’s FORM 10-Q for the period ended March 31, 2001, on April 25, 2001, the plaintiffs-appellants filed a motion to voluntarily dismiss their appeal and the appeal was dismissed by the U.S. Fifth Circuit Court on April 26, 2001.

As reported by the same SEC filing, in December 1999 and early 2000, several persons who allegedly purchased shares of the Company’s common stock during the period from May 21, 1999 through November 11, 1999 filed four purported class action complaints against MII and two of its executive officers, Roger E. Tetrault and Daniel R. Gaubert, in the United States District Court for the Eastern District of Louisiana. Each of the complaints alleged that the defendants violated federal securities laws by disseminating materially false and misleading information and/or concealing material adverse information relating to the Company’s estimated liability for asbestos-related claims. Each complaint sought relief, including unspecified compensatory damages and an award for costs and expenses. The four cases were subsequently consolidated. In June 2000, the plaintiffs filed a consolidated amended complaint, and in July 2000, the Company filed a motion to dismiss all claims asserted in that complaint. In September 2000, the District Court dismissed with prejudice the plaintiffs' consolidated amended complaint for failure to state a claim upon which relief can be granted, which dismissal the plaintiffs appealed to the U.S. Fifth Circuit Court of Appeals in October 2000.

The original class action suit was filed against McDermott International, Inc. and certain of its officers and directors for violation of federal securities laws on behalf of those persons who purchased McDermott securities between May 21, 1999 and November 11, 1999.

COMPANY INFORMATION:

Sector: Energy
Industry: Oil Well Services & Equipment
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: MDR
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: E.D. Louisiana
DOCKET #: 99-CV-03831
JUDGE: Hon. Sarah S. Vance
DATE FILED: 12/21/1999
CLASS PERIOD START: 05/21/1999
CLASS PERIOD END: 11/11/1999
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA)
    600 West Broadway, 1800 One America Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA), CA 92101
    800.449.4900 · support@milberg.com
No Document Title Filing Date
COURT: E.D. Louisiana
DOCKET #: 99-CV-03831
JUDGE: Hon. Sarah S. Vance
DATE FILED: 06/14/2000
CLASS PERIOD START: 05/21/1999
CLASS PERIOD END: 11/11/1999
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Gauthier, Downing, Labarre, Beiser & Dean PLC
    3500 North Hullen Street, Gauthier, Downing, Labarre, Beiser & Dean PLC, LA 70002
    504.456.8600 504.456.8624 ·
  2. Kahn Gauthier Law Group, LLC
    650 Poydras St., Suite 2150, Kahn Gauthier Law Group, LLC, LA 70130
    504-455-1400 ·
  3. Keller Rohrback LLP (Seattle)
    1201 Third Avenue, Suite 3200, Keller Rohrback LLP (Seattle), WA 98101-3052
    800.776.6044 206.623.3384 · investor@kellerrohrback.com
  4. Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA)
    600 West Broadway, 1800 One America Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA), CA 92101
    800.449.4900 · support@milberg.com
  5. Weiss & Yourman (New York, NY)
    The French Building, 551 Fifth Ave., Suite 1600, Weiss & Yourman (New York, NY), NY 10126
    212.682.3025 212.682.3010 · info@wyca.com
No Document Title Filing Date