CB&I comments on misleading & inaccurate report

18 Jun '14

2 min read

CB&I noted there was unusual trading volume in its common stock. The activity appears to be related to the issuance of a report by a short seller recommending that stockholders sell CB&I stock.

CB&I has reviewed the report and strongly disagrees with its assumptions and conclusions.

Notably, the report warns readers to assume that the short-selling firm and/or its affiliates hold short positions in CB&I common stock and that they stand to realize significant gains in the event that CB&I's stock price declines. CB&I believes that this conflict of interest should cause the report and its conclusions to be viewed skeptically.

"CB&I's management team operates our company with the absolute highest integrity, and we take great issue with erroneous claims such as these," said Philip K. Asherman, CB&I's President and Chief Executive Officer.

CB&I's second quarter financial results are scheduled to be released in late July 2014. The company is confirming that it expects to report results within the ranges of its current guidance for the year.

About CB&I

CB&I is the most complete energy infrastructure focused company in the world and a major provider of government services. With 125 years of experience and the expertise of approximately 55,000 employees, CB&I provides reliable solutions while maintaining a relentless focus on safety and an uncompromising standard of quality.

CB&I

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