Joseph Prause v. TechnipFMC PLC, et al.
TechnipFMC Securities Litigation
No. 4:17-cv-02368 (S.D. Tex.)

Frequently Asked Questions

 

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  • All persons who purchased or otherwise acquired TechnipFMC shares (including but not limited to shares acquired through the merger of FMC Technologies Inc., FMC Technologies SIS Limited and Technip S.A.) in the U.S. between the date of the first such acquisition (which occurred no later than January 16, 2017) and July 24, 2017, both dates inclusive.

    If you fit the description of a Class Member, you have a choice whether or not to remain a member of the Class on whose behalf this Action is being maintained.

    If you wish to remain a Class Member, you are not required to do anything at this time. If you do nothing, you will remain a Class Member and will be bound by the result of any judgment, before or after trial, whether favorable or unfavorable. If you choose to remain in the Class, you will not be able to pursue a lawsuit on your own with regard to any of the issues that were or could have been decided in this Action. If you remain in the Class, you are not personally responsible for any expenses or attorneys’ fees. If there is a recovery, you may be entitled to share in the proceeds, less costs, expenses, plaintiff reimbursement award and attorneys’ fees as the Court may allow out of any recovery.

  • TechnipFMC’s concluded that errors existed within certain rates used in the calculations of the foreign currency effects on certain of its engineering and construction projects in the Company’s unaudited Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Income for the quarter ended March 31, 2017. The net income attributable to the Company in the quarter ending March 31, 2017 was overstated by $209.5 million ($0.45 per share).  The Complaint alleges that as a result of this news, TechnipFMC’s stock price fell $0.48, or 1.71%, to close at $27.56 on July 25, 2017.

  • There are many other issues left that the Court has not decided. By establishing the class and issuing the Notice, the Court is not suggesting which side will win or lose on the remaining issues. The Plaintiff must still prove his claim.

    No money or other benefits are available now. There is no guarantee that money or other benefits will be obtained on behalf of class members. If they are, you will be notified about how to share in the benefits.

  • You are a member of the Class if you purchased or otherwise acquired TechnipFMC shares (including but not limited to shares acquired through the merger of FMC Technologies INC., FMC Technologies SIS Limited ad Technip S.A.) in the U.S. between the date of the first such acquisition (which occurred no later than January16, 2017) and July 24, 2017, both dates inclusive. Excluded are: Defendants, officers and directors of TechnipFMC plc (“TechnipFMC” or the “Company”);Members of the defendants, officers and directors of TechnipFMC plc immediate families; Legal representatives of defendants, officers and directors of TechnipFMC plc; Any entity defendants, officers and directors of TechnipFMC plc have or had controlling interest.

  • If you do nothing, you will remain a Class Member and will be bound by the result of any judgment, before or after trial, whether favorable or unfavorable. If you choose to remain in the Class, you will not be able to pursue a lawsuit on your own with regard to any of the issues that were or could have been decided in this Action. If you remain in the Class, you are not personally responsible for any expenses or attorneys’ fees. If there is a recovery, you may be entitled to share in the proceeds, less costs, expenses, plaintiff reimbursement award and attorneys’ fees as the Court may allow out of any recovery.

  • If you desire to be excluded from the Class, you must state so in writing. Your request for exclusion must state: the name and address of the person or entity requesting exclusion, that such person or entity requests exclusion from the Class in this Action, the number of TechnipFMC shares purchased or acquired and the date the TechnipFMC shares were purchased or acquired, and must be signed by that person or entity requesting exclusion from the Class. Requests for exclusion must be transmitted by first class mail or overnight delivery service to the Notice Administrator . You must mail your Exclusion Request postmarked by July 25, 2020 to: TechnipFMC Securities Litigation Exclusions, c/o JND Legal Administration, P.O. Box 91369, Seattle, WA 98111.

  • The Defendants have denied all claims and wrongdoing asserted in the Complaint and any liability arising out of the conduct alleged therein. Defendants believe the facts do not support the Class Representative’s allegations and that the Class Representative will not be able to establish Defendants are liable under the securities laws or responsible for any damages.

    The Court has set a trial date of July 13, 2020. The trial is pending rescheduled date. No findings of fault or liability have yet been made as to any of the parties.

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Mail

TechnipFMC Securities Litigation
c/o JND Legal Administration
P.O. Box 91369
Seattle, WA 98111