SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of TechnipFMC plc (FTI)
NEW YORK, July 25, 2017 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of TechnipFMC plc ("TechnipFMC" or the "Company") (NYSE: FTI). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/fti.
The investigation concerns whether TechnipFMC and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On July 24, 2017, after-market hours, TechnipFMC revealed that it would restate its "unaudited interim condensed consolidated U.S. GAAP financial statements as of March 31, 2017 and for the three months ended March 21, 2017 included in the Company's Quarterly Report on Form 10-Q and prior year period prepared and included in the Company's Quarterly Report for comparison purposes for the quarter ended March 31, 2017" and that these statements should no longer be relied upon. TechnipFMC said that errors existed "within certain rates used in the calculations of the foreign currency effects on certain of its engineering and construction projects". Consequently, the net income in the quarter ending March 31, 2017 was overstated by $209.5 million. Following this news, TechnipFMC stock has dropped as much as $1.63 per share, or 5.81%, during intraday trading on July 25, 2017.
If you are aware of any facts relating to this investigation, or purchased shares of TechnipFMC, you can assist this investigation by visiting the firm's site: www.bgandg.com/fti. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE Bronstein, Gewirtz & Grossman, LLC
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