Securities Fraud

New York, NY: (Feb-16-08) A securities class action lawsuit was brought against Chicago Bridge & Iron Co. N.V. and certain of its officers and directors, by those who purchased the securities of Chicago Bridge & Iron during the period March 9, 2005 through February 3, 2006, and suffered losses due to the company's decisions. In a recent development, company sources stated that the company has entered into a settlement agreement, proposing to pay $10.5 million in cash and to implement certain corporate governance provisions. All those who purchased the securities of the company within the class period, and who were damaged thereby, stand to receive a part of the payout. The monetary payout and the changes in governance structures effectively resolve litigation of the suit filed in the United States District Court for the Southern District of New York. [CENTRE DAILY: SECURITIES SETTLEMENT]

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