To join this class action, please complete the following Investor Certification.
Fluor Corporation (NYSE: FLR) Investor Certification
Oklahoma City, OK (May 30, 2018) – On May 25, 2018, a securities class action lawsuit was filed in the United States District Court for the Northern District of Texas against Fluor Corporation (NYSE: FLR). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is August 14, 2013 through May 3, 2018. More specifically, this litigation was filed because defendants made false and/or misleading statements and/or failed to disclose that (i) Fluor’s bidding process for projects related to the construction of gas-fired power generation facilities was flawed; (ii) Fluor had improperly estimated the gas-fire projects; (iii) as a result, Fluor would face craft productivity issues, equipment issues and other execution issues; (iv) Fluor would incur multiple charges impacting quarterly results; and (v) Fluor would ultimately decide to discontinue the pursuit of the gas-fired power market.
On May 3, 2018, Fluor 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. On this news, shares of Fluor fell more than 22% to close at $45.76 per share on May 4, 2018.
Plaintiff seeks to recover damages on behalf of all Fluor Corporation shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Tuesday, July 24, 2018 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.
If you wish to discuss this action, obtain further information and participate in this or any other securities litigation, or should you have any questions or concerns regarding this notice or preservation of your rights, please contact: Robin Hester at firstname.lastname@example.org