NYSE:BWElectrical
Babcock & Wilcox (BW) Is Down 8.9% After ESOP Share Shelf And Contract Lawsuits Filed
Babcock & Wilcox Enterprises recently filed a US$95.2 million shelf registration for 5,000,000 common shares tied to an ESOP-related offering, while multiple law firms have since launched class action lawsuits alleging false and misleading statements about a major power generation contract and related conflicts of interest.
The combination of a fresh equity shelf and lawsuits focused on revenue recognition and a key shareholder’s alleged conflicts raises questions about governance, contract...