SAN DIEGO, June 11, 2020 /PRNewswire/ -- Johnson Fistel, LLP is investigating potential claims on behalf of Fluor Corporation ("Fluor" or the "Company") (NYSE: FLR) against certain of its officers and directors.
Recently a class action lawsuit was filed in federal court against the Company on behalf of purchasers of the securities of Fluor from November 2, 2017 and February 14, 2020 (the "Class Period").
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 current, long-term shareholder of Fluor, holding shares before November 2, 2017, you may have standing to hold Fluor harmless from the alleged harm caused by the officers and directors of the Company by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.
If you are interested in learning more about the investigation, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.
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Johnson Fistel, LLP
Jim Baker, 619-814-4471
SOURCE Johnson Fistel, LLP