Class Action Suit Filed Against Global Construction Firm

Law360, New York (March 10, 2006, 12:00 AM EST) -- Chicago Bridge & Iron Co. N.V., the global engineering and construction firm, has been slammed with a class action lawsuit for accounting chicanery and misleading investors about its true financial status.

According to the complaint, CBI periodically sent the Securities and Exchange Commission reports stating that the company’s financial results were strong, and repeated similar statements to the public in various press releases.

The suit also claims that the company indicated it possessed a “record backlog” of upcoming building jobs projected to bring in a considerable...
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