Babcock & Wilcox Enterprises, Inc. (the \”Company\”) previously disclosed in our Quarterly Reports for the period ended March 31, 2019 filed on May 9, 2019 and for the period ended June 30, 2019 filed on August 8, 2019 that we reached an agreement in principle with plaintiffs\’ counsel to resolve (a) three separate but substantially similar derivative lawsuits naming the Company and certain of its present and former officers and directors as defendants and which have been consolidated and are pending in the United States District Court for the Western District of North Carolina (the \”Federal Court Derivative Litigation\”), (b) an additional shareholder derivative lawsuit naming the Company and certain of its present and former officers and directors as defendants and which is pending in the North Carolina Superior Court (the \”State Court Derivative Litigation\”), and (c) a consolidated lawsuit alleging violations of federal securities law brought on behalf of a class of investors who purchased the Company\’s common stock and naming the Company and certain of its former officers and directors which suit was filed in the United States District Court for the Western District of North Carolina (the \”Stockholder Litigation\”).

The parties to the Federal Court Derivative Litigation and the State Court Derivative Litigation executed a Stipulation and Agreement of Settlement (the \”Federal Court Derivative Litigation and the State Court Derivative Litigation Settlement Agreement\”) on July 22, 2019. The Federal Court Derivative Litigation and the State Court Derivative Litigation Settlement Agreement was filed with the United States District Court for the Western District of North Carolina on August 2, 2019 and preliminarily approved by that Court on August 12, 2019. A copy of the Summary Notice of Proposed Settlement is attached as Exhibit 99.1. A copy of the Federal Court Derivative Litigation and the State Court Derivative Litigation Settlement Agreement and related Notice of Proposed Settlement can be viewed and downloaded from the Company\’s website at www.babcock.com/questions.

The parties to the Stockholder Litigation executed a Stipulation and Agreement of Settlement (the \”Stockholder Litigation Settlement Agreement\”) on June 21, 2019. The Stockholder Litigation Settlement Agreement was filed with the United States District Court for the Western District of North Carolina on June 25, 2019 and preliminarily approved by that Court on August 12, 2019.

The information furnished to this Item 8.01, including Exhibit 99.1 furnished hereto, shall not be deemed to be \”filed\” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the \”Exchange Act\”), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits

Babcock & Wilcox Enterprises, Inc. Exhibit
EX-99.1 2 summarynoticeofproposedset.htm EXHIBIT 99.1 Exhibit Exhibit 99.1IN THE UNITED STATES DISTRICT COURTFOR THE WESTERN DISTRICT OF NORTH CAROLINACHARLOTTE DIVISIONLead No. 3:18-cv-00347-MOC-DCK(Consolidated with Nos. 3:18-cv-00349-MOC-DCK and 3:18-cv-00350-MOC-DCK)IN RE BABCOCK & WILCOX ENTERPRISES,…
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About BABCOCK & WILCOX ENTERPRISES, INC. (NYSE:BW)

Babcock & Wilcox Enterprises, Inc. is a technology-based provider of fossil and renewable power generation and environmental equipment that includes a suite of boiler products and environmental systems, and services for power and industrial uses. The Company operates in three segments: Global Power, Global Services and Industrial Environmental. Through its Global Power segment, the Company engineers, manufactures, procures, constructs and commissions boilers fueled by fossil fuels and renewables in addition to environmental systems and related auxiliary equipment primarily to steam generating customers globally. Through its Global Services segment, the Company provides aftermarket products and services to steam generating utilities across the world and various industrial customers. Through its Industrial Environmental segment, the Company provides a range of environmental technology and services to industrial end markets across the world.