LIUNA: Willbros Watchdog Website Launched, Coalition Calls for Management Accountability

News provided by

Laborers' International Union of North America

Apr 10, 2015, 06:16 ET

WASHINGTON, April 10, 2015 /PRNewswire-USNewswire/ -- TNL Strategies Group, a combined effort of LIUNA Corporate Affairs and IBT Capital Strategies that provides information to a group of pension funds with combined assets of over $135 billion, launched a watchdog website at WillbrosWatch.org to highlight management changes needed to make Willbros Group (NYSE – WG) profitable for investors. The recent drop in Willbros Group's stock price to an all-time low of $1.50, and a 73% drop over the past year underscores the company's ongoing management troubles.

The website provides breaking news on the company, outlook and detailed analysis, including a new report that recommends sale of the oil and gas segment of the company to avoid the further hemorrhaging of stock prices.

Analysis has revealed numerous problems which point to other management problems; including years of lackluster stock performance, poor execution of projects and consistently weak margins. Willbros has also faced a financial restatement, been found guilty of violating the foreign corrupt practices act, and had to delay filing of its annual report.

Pension funds, affiliated with TNL Strategies Group, have filed a shareholder proposal with Willbros Group, calling for the Board of Directors to hold annual elections for the entire slate of directors—to allow shareholders a chance to hold the full board of directors accountable.

TNL Strategies Group will continue investor education and push for changes to the executive team that will improve the company's financial health and performance.

TNL Strategies Group is a combined effort of LIUNA Corporate Affairs and IBT Capital Strategies that provides information to a group of pension funds with combined assets of over $135 billion.

*Disclaimer: the website seeks to make no investment recommendations, as the sole-purpose is to educate current shareholders of on-going developments in the company.

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SOURCE Laborers' International Union of North America