Thread regarding National Oilwell Varco Inc. layoffs

SHAREHOLDER ALERT: Monteverde & Associates PC Launches an Investigation of the Board of Directors and Officers of National Oilwell Varco, Inc -

NEW YORK, Nov. 13, 2019 /PRNewswire/ – Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a national class action securities firm headquartered at the Empire State Building in New York City, is investigating the Board of Directors and Officers of National Oilwell Varco, Inc. ("National Oilwell" or the "Company") (NYSE: NOV) for possible breaches of fiduciary duty.

Click here for more information: https://www.monteverdelaw.com/case/national-oilwell-varco-inc. It is free and there is no cost or obligation to you.

Monteverde & Associates PC is a national class action securities and consumer litigation law firm that has recovered millions of dollars and is committed to protecting shareholders and consumers from corporate wrongdoing. Monteverde & Associates lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions, whereby they protect investors by recovering money and remedying corporate misconduct. Mr. Monteverde, who leads the legal team at the firm, has been recognized by Super Lawyers as a Rising Star in Securities Litigation in 2013, 2017-2019 an award given to less than 2.5% of attorneys in a particular field. He has also been selected by Martindale-Hubbell as a 2017-2019 Top Rated Lawyer.

If you own common stock in National Oilwell Varco, Inc and wish to obtain additional information and protect your investments free of charge, please visit our website or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341.

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Post ID: @OP+124ro6ju

5 replies (most recent on top)

Hello People are you finally waking up and seeing this. The Top Management teams have been lying to share holders for years. The backlog has been a fake number being reported to the Street.
Heads need to roll starting with Mr. Personality then the Englishman they have been altering the numbers for a very long time. Then the little Elf needs to be replaced.
Everyone don’t relax, major Cuts are coming real fast. Get your resume polished up and ready!

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Post ID: @4jub+124ro6ju

Well said - the last post sums the situation up concisely

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Post ID: @2ibz+124ro6ju

Yeah I'm willing to bet the they chose to continue to hold onto inventory outside of their typical accounting process, but instead changed the process to allow themselves to keep over a $1B on the books, instead of writing it off like they should have might be a fiduciary issue with the shareholders.

Also I'm wondering if the $1B+ in Brazil projects is still in the backlog, which will never happen now or anytime in the future might be an issue with the shareholders.

Add in the continued payout of cash bonuses and stock to executives as this $37B Market Cap company dwindles down to $8.2B over the past 2 years doesn't exactly pass the sniff test to me.

Glad my fund manager chose to shed this stock back when the bloodletting began.

Hopefully these lawsuits will result in a new board, new CEO, new leadership, and new management that will truly right-size this company into a entity that can strive toward a positive future. Winning in the oil game nowadays will require a whole new mindset, strategy and tactics that capture where the market is today. Not where it was, not where they want it to be, and not with all the baggage they still currently carry around with them on a daily basis.

Sad state of affairs for NOV. Shame on the CEO, his Group Presidents, and their staff!!!!

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Post ID: @2jam+124ro6ju

They get my vote, anything that changes the top level of management at this company is a good thing and long overdue, take a closer look at the VP level too, some serious breaches going on there with their 'Charismatic' leaders......not

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Post ID: @2wsl+124ro6ju

It’s about time!!!

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Post ID: @1sqn+124ro6ju

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