CB&I Settles Securities Class Action For $10M

Law360, New York (February 15, 2008, 12:00 AM EST) -- Engineering and construction services provider Chicago Bridge & Iron Co. NV has agreed to pay $10.5 million to settle a lawsuit that accused it of misleading investors about its true financial status.

The settlement was entered into on Jan. 22 and preliminarily approved by Judge John E. Sprizzo of the U.S. District Court for the Southern District of New York on Jan. 30, lawyers for the plaintiffs said Friday.

A settlement fairness hearing has been scheduled for June 3.

“We believe that this case is a...
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