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Investor Class Action Filed Against TechnipFMC plc for Securities Fraud Violations
Company Name: TechnipFMC plc
Court: United States District Court for the Southern District of Texas
Case Number: 17-cv-02368
Judge: The Hon. Alfred H. Bennett
Class period: Between January 16, 2017 and July 24, 2017
Security Type: Common Stock

Case Background:

On August 3, 2017, the initial complaint in this securities class action was filed against TechnipFMC plc (“Technip” or the “Company”), and certain of Technip’s directors, officers and underwriters, asserting violations of sections 10(b) and 20(a) of the Securities Exchange Act. The Complaint alleges that, throughout the Class Period, defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) Technip had a material weakness in its internal control over rates used in the calculations of the foreign currency effects on certain of its engineering and construction projects; (ii) accordingly, the Company lacked effective internal controls over financial reporting; and (iii) as a result of the foregoing, Technip’s public statements were materially false and misleading at all relevant times.

On March 9, 2020, the Court certified a Class consisting of all persons who purchased or otherwise acquired Technip shares (including but not limited to shares acquired through the merger of FMC Technologies Inc. FMC Technologies SlS Limited and Technip S.A.) in the U.S. between the date of the first such acquisition (which occurred no later than January 16, 2017) and July 24 , 2017, both dates inclusive.

Current Status of Case:

There are several Motions for Summary Judgment pending before the Court.  A trial is tentatively scheduled to begin on March 1, 2021.  This action is still ongoing. 

If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.

CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087 1-844-887-9500 (toll free) or 1-610-667-7706
Or by e-mail at info@ktmc.com

Please complete this form and list your purchase and sale transaction(s) for TechnipFMC plc (NYSE: FTI) securities between January 16, 2017 and July 24, 2017, both dates inclusive (the “Class Period”):

You may also contact James Maro, Jr., Esq. or Adrienne Bell, Esq. at 610.667.7706 or toll free at 844.887.9500, or you may submit your information via email at info@ktmc.com, or you may click here to print a PDF of this form.

* Denotes required field
 
 
 
 
 
 
# of Shares
Price per Share
 
 
 
Principal Amount
Amount Paid
Series or CUSIP
 
 
 
# of Contracts
Price per Contract
Exercise Price
Expiration Date
Did you purchase shares of TechnipFMC plc (2017) prior to the Class Period?
Are you a current or former employee of TechnipFMC plc (2017)?
The submission of this form does not create an attorney-client relationship, nor an obligation on the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Any information you submit will be maintained as confidential. If Kessler Topaz, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss the matter and whether to establish an attorney client relationship. By signing this form you are authorizing us to contact you regarding this case and/or future cases.
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