LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Babcock & Wilcox Enterprises, Inc. (“B&W” or the “Company”) (NYSE: BW) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On October 27, 2022, B&W revised full year 2022 adjusted EBITDA, expecting $70 million to $80 million. The Company explained that the reduction was due to “delay of revenue recognition on certain projects” caused by “global supply chain pressures and shortages caused by geopolitical issues and the war in Ukraine.”
On this news, B&W’s stock fell $2.97, or 37.2%, to close at $5.02 per share on October 27, 2022, thereby injuring investors.
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If you purchased B&W securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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