McDermott International, Inc. Loss Submission Form

Company: McDermott International, Inc.

Ticker: (NYSE) MDR

Deadline

Passed

Lead Plaintiff Deadline: September 16, 2020

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Allegations

A complaint has been filed against McDermott’s President, Chief Executive Officer and Board Member David Dickson, its Former Executive Vice President and Chief Financial Officer Stuart A. Spence, and its Executive Vice President and Chief Financial Officer Christopher A. Krummel. The filed complaint alleges that defendants made and caused McDermott to make materially false and/or misleading statements and/or failed to disclose material facts regarding the Company’s sale of its asset Lummus Technology. Plaintiffs allege that these statements were made with the intent to conceal the acute liquidity crisis McDermott actually faced, to provide the Company time to prepare a prepackaged plan of reorganization with its secured lenders and other stakeholders, and to avoid a freefall Chapter 11 filing.