Kahn Swick & Foti, LLC Announces a Proposed Settlement in the Chicago Bridge & Iron Company N.V. Securities Litigation

NEW ORLEANS, April 20, 2022 /PRNewswire/ --

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Southern District of New York, that a hearing will be held on July 25, 2022, at 4:30 p.m., before the Honorable Lorna G. Schofield in Courtroom 1106 of the Thurgood Marshall U.S. Courthouse at 40 Foley Square, New York, NY 10007, for the purpose of determining: (1) whether the proposed Settlement for the sum of $44,000,000 in cash should be approved by the Court as fair, reasonable and adequate; (2) whether, after the hearing, this Action should be dismissed with prejudice pursuant to the terms and conditions set forth in the Stipulation and Agreement of Settlement dated as of February 4, 2022; (3) whether the proposed Plan of Allocation is fair, reasonable, and adequate and should be approved; and (4) whether the application of Class Counsel for the payment of attorneys' fees and reimbursement of expenses incurred in this Action, and any application of Lead Plaintiff and Additional Plaintiffs for a compensatory award, should be approved.

If you purchased Chicago Bridge & Iron Company N.V. ("CB&I" or the "Company") common stock (trading symbol "CBI") between October 30, 2013 and June 23, 2015, inclusive, your rights may be affected by the Settlement of this Action. Please visit the website listed in the Notice of Pendency and Proposed Settlement of Class Action ("Notice") and obtain a copy of the Proof of Claim and Release. You may also obtain copies of these documents by writing to Chicago Bridge & Iron Securities Litigation, c/o A.B. Data, Ltd., P.O. Box 170800, Milwaukee, WI 53217, by calling the Claims Administrator at 1-855-958-3609, or by visiting the website at www.chicagobridgeironsecuritieslitigation.com. The Notice contains details about this Action and Settlement, including what you must do to file a Proof of Claim, exclude yourself from the Settlement, or object to the Settlement. If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release electronically by, or mail it postmarked no later than, July 1, 2022, establishing that you are entitled to recovery.

If you desire to be excluded from the Class, you must submit a Request for Exclusion postmarked by July 1, 2022, in the manner and form explained in the detailed Notice referred to above. All Members of the Class who have not timely and validly requested exclusion from the Class will be bound by any judgment entered in the Action pursuant to the terms and conditions of the Stipulation of Settlement. Your objection(s) must be mailed on or before July 1, 2022, to: Class Counsel Kahn Swick & Foti, LLC; and Counsel for the Defendants, at the following addresses:

CLASS COUNSEL:

Lewis S. Kahn
KAHN SWICK & FOTI, LLC
1100 Poydras Street, Suite 3200
New Orleans, LA 70163

Lead Counsel for Class Representative and Lead Plaintiff
ALSAR Ltd. Partnership and Class Counsel

DEFENDANTS' COUNSEL:

David D. Sterling
BAKER BOTTS L.L.P.
910 Louisiana Street
Houston, TX 77002

Counsel for Defendants Chicago Bridge & Iron Company N.V.,
Philip Asherman, Ronald Ballschmiede, and Westley Stockton

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE. If you have any questions about the settlement, you may contact Class Counsel at the address listed above.

SOURCE Kahn Swick & Foti, LLC

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED