Class Action Lawsuit Filed Against Babcock & Wilcox Enterprises Over Alleged Securities Fraud
A class action lawsuit has been filed against Babcock & Wilcox Enterprises, Inc. (NYSE: BW) by Berger Montague PC, alleging securities fraud. The lawsuit claims the company failed to disclose conflicts of interest involving its largest shareholder, BRC Group Holdings, Inc., which may have impacted the company's revenue recognition. The stock price dropped 11.59% following the report, causing losses for investors.
Topics: class action disclosure failure investor losses securities fraud stock price drop