Thread regarding McDermott International Inc. layoffs

Class Action Lawsuit given green light

Houston court rejected McDermott's motion to dismiss class action claim from Nova Scotia Health Emplyee's Pension Plan. Came out in Industry news, but nothing so far posted online from lawyers.
This is at least the second class action lawsuit given green light by the courts. The other than I know of is by Wolf Popper LLP representing the Public Employees Retirement System of Mississippi. Check out the lawyer's site. It provides the court document which is very detailed and provides a glimpse that the lawyers have a lot of damaging evidence against DD and other execs.

by
| 3108 views | | 4 replies (last )
Post ID: @OP+1bmnl5HL

4 replies (most recent on top)

DD didn't chose to go, or resign. He was sacked.

by
|
Post ID: @2ynw+1bmnl5HL

The announcement of Di-kson's leaving was a single nine-word sentence.
He was probably told to resign or be fired.

The announcement came within hours of a court hearing in Van Deelen v. Di-kson, et al, a suit accusing Di-kson, Spence and Lamb of fraud. A coincidence?

McDermott officers have indemnification agreements which pay their legal fees when they are sued. The agreements don't cover suits for fraud.

by
|
Post ID: @2ftq+1bmnl5HL

This was given the green light in April. Nova Scotia are the lead plaintiff, joined by Mississipi and Ahnefelt, collectively they are: MIRIAM EDWARDS, et al, Plaintiffs, v. MCDERMOTT INTERNATIONAL, INC., et al, Defendants.
Full details here: https://casetext.com/case/edwards-v-mcdermott-intl-inc

by
|
Post ID: @1aag+1bmnl5HL

This has me wondering - I am always skeptical about things being just a coincidence. The timing of these court decisions is very recent. And seem to align closely with DD's decision to resign. My guess is that MDR likely decided it was going to be too expensive to keep defending DD (and others). These court decisions may be the driver for DD's decision, effective immediately.

I do believe some dots are being connected here.

by
|
Post ID: @1ycp+1bmnl5HL

Post a reply

: