Babcock & Wilcox Enterprises Inc. Common Stock (NYSE: BW)
55 Days left to seek lead plaintiff status.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) B&W’s largest shareholder, BRC, stood on both sides of the Power Generation Contract and had close ties to B&W’s counterparty; (ii) Applied Digital did not need the products and services that B&W would purportedly supply pursuant to the Power Generation LNTP and Contract; (iii) the foregoing, at the very least, would raise questions about the parties’ actual intent behind entering into the Power Generation LNTP and Contract, including whether the Company is likely to recognize revenues from these agreements; (iv) accordingly, the business and financial prospects of the Company were overstated; and (v) as a result, Defendants’ public statements were materially false and misleading at all relevant times.