Hynes Keller & Hernandez, LLC is investigating potential claims against the Board of Directors of FMC Technologies, Inc. (“FTI” or the “Company”) (NYSE: FTI) concerning possible breaches of fiduciary duty. In the second quarter of 2014, FTI received an inquiry and a subpoena from the U.S. Securities and Exchange Commission (“SEC”) seeking information about paid-time-off-accruals within the automation and control business unit. The inquiry continued into the second half of 2014 and covered revenue and expenses in certain business units. Additionally, FTI received subpoenas in 2015 regarding uncertain foreign tax positions and on January 19, 2016, was notified that the SEC had made a preliminary determination to recommend the filing of a civil enforcement action against the Company for alleged violations of the books and records and internal control provisions of the U.S. securities laws.
On March 28, 2016, FTI also received an inquiry from the U.S. Department of Justice (“DOJ”) related to the DOJ’s investigation of whether certain services Unaoil S.A.M. provided to its clients, including FTI, violated the Foreign Corrupt Practices Act.
Shareholders interested in seeking to recover damages on behalf of FTI and to implement corporate governance measures designed to prevent future misconduct should contact the firm.
If you hold FTI shares and you would like to discuss your legal rights, please email the firm at info@hkh-lawfirm.com. You can also contact us by calling Michael J. Hynes at (610) 994-0292 or by sending an e-mail to mhynes@hkh-lawfirm.com.