An investor in NYSE: FLR shares filed a lawsuit against Fluor Corporation over alleged violations of Federal Securities Laws.
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 email@example.com or call +1(858) 779 – 1554.
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.
Irving, TX based Fluor Corporation, through its subsidiaries, provides engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, and project management services worldwide. Fluor Corporation reported that its annual Total Revenue rose from over $19.03 billion in 2016 to over $19.52 billion in 2017 and that its Net Income declined from $281.4 million in 2016 to $191.37 million in 2017.
Shares of Fluor Corporation (NYSE: FLR) grew from $37.40 per share in August 2017 to as high as $61.53 per share in January 2018.
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.
On June 1, 2018, NYSE: FLR shares closed at $49.00 per share.
Those who purchased shares of Fluor Corporation (NYSE: FLR) have certain options and should contact the Shareholders Foundation.
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