Pipeline Contractor To Pay $10M To Shareholders’ Stock Drop Claims

Mealey's (April 17, 2018, 2:27 PM EDT) -- HOUSTON — An infrastructure contractor serving the oil, gas, refinery, petrochemical and power industries will pay $10 million to settle claims that it and certain of its current and former executive officers improperly accounted for two pipeline construction projects and misstated its financial earnings as a result, according to a motion for preliminary approval of settlement and stipulation of settlement filed in Texas federal court on April 13 (In re Willbros Group Inc. Securities Litigation, No. 14-3084, S.D. Texas)....