Babcock

Fraud allegations expand against Babcock & Wilcox

An amended shareholder complaint against Charlotte-based Babcock & Wilcox Enterprises expands allegations that company executives misled investors about impending losses on major projects. The new complaint accuses CEO Jim Ferland and CFO Jenny Apker of hiding severe problems in B&W’s waste-to-energy projects while the company racked up almost $260 million in losses. B&W’s stock has lost […]

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Babcock & Wilcox shares plummet on earning report

Shares at Babcock & Wilcox Enterprises Inc. fell more than 72% Thursday after the Charlotte-based energy supplier reported a second-quarter net loss of $151 million, or $3.09 per share. Babcock & Wilcox Enterprises widely missed analysts’ expectations that it would earn 6 cents per share. Revenue fell nearly 9% to $349.8 million. The company’s stock […]

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