Spector Roseman, Milberg Weiss, and Cohen Milstein Announce the
Proposed Settlement of a Securities Class Action Lawsuit against
Chicago Bridge & Iron Co. N.V. and Certain of Its Officers and
Directors for $10.5 Million in Cash and the Implementation of Certain
Corporate Governance Provisions
In the United States District Court for the Southern District of
New York, in Welmon v. Chicago Bridge & Iron Co. N.V., et al., Case
No. 06-CV-01283 (JES), a summary notice has been issued as follows:
Summary Notice of Pendency of Class Action, Proposed Settlement
and Settlement Hearing
To: all persons who purchased the securities of Chicago Bridge &
Iron Co. N.V. ("CB&I") during the period March 9, 2005 through
February 3, 2006, inclusive, and who were damaged thereby (the
"Settlement Class").
YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules
of Civil Procedure and an Order of the United States District Court
for the Southern District of New York, that the above-captioned action
has been certified as a class action and that a settlement for $10.5
million and CB&I´s implementation of certain corporate governance
provisions has been proposed. A hearing will be held before the
Honorable John E. Sprizzo in the Daniel Patrick Moynihan United States
Courthouse, 500 Pearl Street, New York, New York 10007-1312, at 3:00
p.m., on June 3, 2008 to determine whether the proposed settlement
should be approved by the Court as fair, reasonable, and adequate, and
to consider the application of Plaintiffs´ Co-Lead Counsel for
attorneys´ fees and reimbursement of expenses.
IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS DESCRIBED ABOVE, YOUR
RIGHTS WILL BE AFFECTED AND YOU MAY BE ENTITLED TO SHARE IN THE
SETTLEMENT FUND. If you have not yet received the full printed Notice
of Pendency of Class Action and Proposed Settlement, Motion for
Attorneys´ Fees and Settlement Fairness Hearing and a Proof of Claim
form, you may obtain copies of these documents by contacting the
Claims Administrator:
-0-
*T
Chicago Bridge & Iron Co. Securities Litigation Settlement
c/o Complete Claim Solutions, LLC
Claims Administrator
Post Office Box 24789
West Palm Beach, FL 33416
(877) 567-4298
www.chicagobridgesecuritiessettlement.com
*T
Inquiries, other than requests for the forms of Notice and Proof
of Claim, may be made to Plaintiffs´ Co-Lead Counsel:
-0-
*T
Robert M. Roseman, Esq.
Spector Roseman & Kodroff, P.C.
1818 Market Street, Suite 2500
Philadelphia, PA 19103
Telephone: (215) 496-0300
Barry A. Weprin, Esq.
Milberg Weiss LLP
One Pennsylvania Plaza
New York, NY 10119-0165
Telephone: (212) 594-5300
Mark S. Willis, Esq.
Cohen, Milstein, Hausfeld & Toll, P.L.L.C.
1100 New York Avenue, N.W.
Suite 500, West Tower
Washington, D.C. 20005
Telephone: (202) 408-4600
*T
To participate in the Settlement, you must submit a Proof of Claim
no later than June 26, 2008. If you are a Settlement Class Member and
do not exclude yourself from the Settlement Class, you will be bound
by the Order and Final Judgment of the Court. To exclude yourself from
the Settlement Class, you must submit a request for exclusion
postmarked no later than May 8, 2008. Any objections to the Settlement
must be filed by May 8, 2008. If you are a Settlement Class Member and
do not submit a proper Proof of Claim, you will not share in the
Settlement but you nevertheless will be bound by the Order and Final
Judgment of the Court.
Further information may be obtained by contacting the Claims
Administrator.
By Order of the United States District Court for the Southern
District of New York
