Fluor Corporation (FLR)
FLR SHARHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Notifies of Class Action Against Fluor Corporation and Encourages Investors to Contact the Firm
Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against of Fluor Corporation ("Fluor" or "the Company") (NYSE: FLR) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Fluor securities between November 2, 2017 and February 14, 2020, both dates inclusive (the “Class Period”).
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: Specifically the complaint alleges that: (1)defendants inflated Fluor's revenue and earnings by improperly recognizing revenue on 16 separate projects ("2Q 2019 Projects"); (2) once awarded a contract to perform work on a construction project, the Company would routinely submit "change orders" to its clients to request additional funds, which the client was not contractually obligated to pay, to cover "unforeseen circumstances"; (3) defendants repeatedly made false and misleading statements to investors regarding Fluor's revenue recognition practices with respect to its submission of these change orders; and (4) consequently, shares of Fluor's common stock traded at artificially inflated prices during the Class Period.
A class action lawsuit has already been filed. You can review a copy of the Complaint and sign the certification form or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Fluor you have until April 28, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.