CB&I – Financial Treason & Crime

James Frost, 25 May 2021

The Brisbane-based firm, which specialises in pre-paid gift cards and reloadable sports betting cards, revealed it was alerted to the Central Bank of Ireland’s (CBI) concerns about the risk of money laundering in a letter to its wholly owned subsidiary PFS Card Services Ireland Limited (PCSIL) late on Thursday, May 13. Continue reading “Article: EML took five days to reveal money laundering concerns”

04/14/202104/15/2021

Article: McDermott Can’t Ditch CB&I Merger Suit, Texas Judge Says

Article - Media, Publications

McDermott Can’t Ditch CB&I Merger Suit, Texas Judge Says

Craig Clough, 14 April 2021

A Texas federal judge explained Wednesday that McDermott International Inc. must face a securities fraud suit over its acquisition of Chicago Bridge & Iron Co., denying its motion to dismiss and finding that stockholders sufficiently pled that proxy statements from McDermott were made “with actual knowledge that they were misleading.”

U.S. District Judge George C. Hanks Jr. already denied McDermott’s motion to dismiss on March 31 in a one-page order, and issued his full opinion behind the order on Wednesday that said McDermott cannot escape the allegations it concealed material problems with the integration of CB&I’s business and the likelihood that its projects would incur higher-than-expected costs. Continue reading “Article: McDermott Can’t Ditch CB&I Merger Suit, Texas Judge Says”