FTI Investors Alert: Hagens Berman Alerts Investors in TechnipFMC plc to Investigation into Possible Securities Law Violations Related to Admitted Improper Accounting

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SAN FRANCISCO, July 26, 2017 /PRNewswire/ -- Hagens Berman Sobol Shapiro LLP alerts investors in TechnipFMC plc (NYSE: FTI) to the firm's investigation into possible securities law violations related to the Company's recent admission that financial statements for the quarter ended March 31, 2017 should no longer be relied on.

If you purchased or otherwise acquired securities of FTI before July 24, 2017 and suffered losses contact Hagens Berman Sobol Shapiro LLP.  For more information visit:

https://www.hbsslaw.com/cases/FTI

or contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing [email protected].

On July 24, 2017, FTI announced in its Form 8-K filed with the U.S. Securities and Exchange Commission that it would restate certain unaudited interim condensed consolidated U.S. GAAP financial statements.  Specifically, FTI determined that it would restate financial statements for March 31, 2017, and for the three months ended March 31, 2017, included in the Company's quarterly report on Form 10-Q, previously filed with the SEC on May 4, 2017.  The Company explained such financial statements should no longer be relied upon because of material errors.

More specifically, "net income attributable to the Company in the quarter ending March 31, 2017 was overstated by $209.5 million ($0.45 per share)."

This news drove the price of FTI shares down on unusually heavy volume during intra-day trading on July 25, 2017.

"We're focused on the magnitude of management's improper accounting that, when corrected, appear to wipe out FTI's previously reported Q1 2017 net income," said Hagens Berman partner Reed Kathrein.

Whistleblowers:  Persons with non-public information regarding FTI should consider their options to help in the investigation or take advantage of the SEC Whistleblower program.  Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.  For more information, call Reed Kathrein at 510-725-3000 or email [email protected].

About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with offices in 10 cities.  The Firm represents investors, whistleblowers, workers and consumers in complex litigation.   More about the Firm and its successes can be found at www.hbsslaw.com.  For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact:
Reed Kathrein, 510-725-3000

SOURCE Hagens Berman Sobol Shapiro LLP

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