RM LAW, P.C. announces that a class action lawsuit has been filed on behalf of all persons or entities that purchased Fluor Corporation ("Fluor" or the "Company") (NYSE: FLR) securities during the period from November 2, 2017 through February 14, 2020, inclusive (the “Class Period”).
Fluor shareholders may, no later than April 28, 2020, move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of Fluor and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Company’s earnings were inflated each quarter as a result of the Company’s practice of improperly recognizing revenue on approximately 16 different projects; (2) the revenue the Company had been recognizing from its submissions of change orders was inflated as the Company did not have a reasonable basis to believe that it was “probable that a significant reversal in the amount of cumulative revenue recognized will not occur”; and (3) as a result, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
If you are a member of the class, you may, no later than April 28, 2020, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain RM LAW, P.C. or other counsel of your choice, to serve as your counsel in this action.