TMCnet News

Willbros Group, Inc. Shareholders Encouraged to Contact the Law Offices of Howard G. Smith Regarding Investigation
[October 22, 2014]

Willbros Group, Inc. Shareholders Encouraged to Contact the Law Offices of Howard G. Smith Regarding Investigation


BENSALEM, Pa. --(Business Wire)--

Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of shareholders of Willbros Group, Inc. ("Willbros" or the "Company") (NYSE:WG) concerning possible violations of federal securities laws. The investigation focuses on certain statements issued by Willbros regarding the Company's financial results, operations and business prospects.

Willbros operates as an energy infrastructure contractor serving the oil, gas, refinery, petrochemical, and power industries worldwide. Specifically, the investigation relates tothe Company's October 21, 2014, disclosure that it would restate second quarter 2014 results after identifying approximately $22 to $24 million in losses caused by the deterioration of a "significant pipeline construction project." Additionally, the Company further disclosed that, "this deterioration consists of the reversal of approximately $8.0 million in pre-tax income previously recognized and the recognition of approximately $14.0 to $16.0 million in estimated pre-tax losses at project completion." As a result of this news, Willbros stock declined over 33%, on unusually heavy volume.



If you purchased Willbros shares, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to [email protected], or visit our website at http://www.howardsmithlaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.



[ Back To TMCnet.com's Homepage ]