Chicago Bridge & Iron Company N.V. (CBI) Message Board

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Gold/Mining/Energy : Chicago Bridge & Iron Company N.V. (CBI)

CBI 16.39

0.0%

May 11 4:00 PM EDT

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To: Savant who wrote (34)	6/18/2014 4:40:23 PM
From: Glenn Petersen	Read Replies (1) of 55

The shares rebounded today on eight times the normal volume. These are serious accusations: According to media reports, Chicago Bridge & Iron has falsified its financial statements to reflect inflated profitability levels. Further, these reports suggest that the company has been facing problems with some of the contracts which got into the company’s books after the acquisition of the Shaw Group in 2012. It has also been pointed out that the company’s share price is currently trading at higher levels than its actual valuation. The reports further suggest that the company might write-off its goodwill or restate financials which could trigger debt default, thereby increasing the risk of a liquidity crisis. finance.yahoo.com

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