Investor Suit Over CB&I Failed Nuke Projects Trimmed
Law360 (August 26, 2019, 11:47 AM EDT) -- Engineering and construction firm Chicago Bridge & Iron Co. NV dodged one of four fraud claims brought by investors over its "disastrous" acquisition of Shaw Group Inc. and the decline of its nuclear business Friday when a New York federal judge ruled it time barred.
U.S. District Judge Lorna G. Schofield dismissed a securities fraud claim under Section 18 of the Exchange Act, which alleged that CB&I misled shareholders by making false statements or significant omissions in written reports, rejecting the investors' argument that the statute of limitations had been paused when a related class action was filed in 2017....
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