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Investigation announced for Long Term Investors in shares of Fluor Corporation (NYSE: FLR)

05-19-2020 10:51 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of current long term investors in Fluor Corporation (NYSE: FLR) shares.

An investigation on behalf of current long term investors in Fluor Corporation (NYSE: FLR) shares.

An investigation was announced for long-term investors in shares of Fluor Corporation (NYSE: FLR) concerning potential breaches of fiduciary duties by certain directors of Fluor Corporation.

Investors who are current long term investors in Fluor Corporation (NYSE: FLR) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm for current long term investors in NYSE: FLR stocks follows a lawsuit filed against Fluor Corporation over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: FLR stocks, concerns whether certain Fluor directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Northern District of Texas the plaintiff alleges that Fluor Corporation inflated its revenue and earnings by improperly recognizing revenue on 16 separate projects ("2Q 2019 Projects"), that 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", that 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 that as a result of Defendants' misrepresentations, shares of Fluor's common stock traded at artificially inflated prices between November 2, 2017 and February 14, 2020.

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

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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