McDermott Investors Suing Over CB&I Merger Get Subclass Leader

McDermott International Inc. investors who alleged losses from the engineering firm’s 2018 acquisition of Chicago Bridge & Iron Co. received a leader for their proposed subclass.

Christopher Coligado is the most appropriate representative for shareholders who purchased McDermott stock on the market, the US District Court for the Southern District of Texas said Monday in the long-running suit.

That group is separate from an already certified subclass of former CB&I investors who received McDermott shares in the merger, due to a potential conflict of interest between them. The class conflict issue went up to the US Court of Appeals for ...