Energy News / Shareholders Foundation, Inc.

NYSE:FLR Shareholder Notice: Lawsuit Alleges Misleading Statements by Fluor Corporation

Via: ReleaseWire

Updated 11:15 AM CDT, Tue, June 12,2018

A lawsuit was filed on behalf of investors in Fluor Corporation (NYSE: FLR) shares over alleged securities laws violations.

San Diego, CA -- (SBWIRE) -- 06/12/2018 -- An investor, who purchased shares of Fluor Corporation (NYSE: FLR), filed a lawsuit over alleged Securities Laws violations by Fluor Corporation in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Fluor Corporation (NYSE: FLR) have certain options and for certain investors are short and strict deadlines running. Deadline: July 24, 2018. NYSE: FLR investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on behalf of purchasers of Fluor Corporation (NYSE: FLR) common shares between August 14, 2013 and May 3, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between August 14, 2013 and May 3, 2018, the defendants made false and/or misleading statements and/or failed to disclose that Fluor's bidding process for projects related to the construction of gas-fired power generation facilities was flawed, that Fluor had improperly estimated the gas-fire projects, that as a result, Fluor would face craft productivity issues, equipment issues and other execution issues, that Fluor would incur multiple charges impacting quarterly results, and that Fluor would ultimately decide to discontinue the pursuit of the gas-fired power market.

On May 3, 2018, Fluor Corporation issued a press release announcing its first quarter 2018 financial results, disclosing an after-tax charge of approximately $96 million for forecast revision on a gas-fired power project. Fluor revised its 2018 guidance for Earnings Per Share to $2.10-$2.50 per diluted share.

Shares of Fluor Corporation (NYSE: FLR) declined to $43.86 per share on May 7, 2018.

Those who purchased shares of Fluor Corporation (NYSE: FLR) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

For more information on this press release visit:
http://www.sbwire.com/press-releases/nyseflr-shareholder-notice-lawsuit-alleges-misleading-statements-by-fluor-corporation-993017.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com