SEC Fluor Fair Fund Now Accepting Claims - -

If you purchased Fluor Corporation common stock (FLR) between May 6, 2016 and February 17, 2020, and held through one of the relevant corrective disclosures, and suffered losses, you may be eligible for a Distribution Payment from a $14.6 Million-Dollar Fair Fund

SEATTLE, Oct. 10, 2024 /PRNewswire/ -- JND Legal Administration -- On September 6, 2023, the Commission issued Orders instituting and simultaneously settling cease-and-desist proceedings against Fluor Corporation ("Fluor" or "Fluor Corporation") and five former and current officers and employees (the "Respondents"). In the Orders, the Commission found that Respondents improperly accounted for two large-scale, fixed-price construction projects. Fluor bid on these projects, relying on overly optimistic cost and timing estimates. Following each project's contract award, Fluor experienced cost overruns that worsened over time. Yet, Fluor failed to maintain a system of internal accounting controls sufficient to account for these contracts in accordance with U.S. Generally Accepted Accounting Principles. These failings resulted in inaccurate books and records and ultimately in materially misstated financial statements included in periodic reports filed with the Commission.

In their respective Orders, the Commission ordered the Respondents to pay to the Commission a collective total of $14,600,000.00 in civil money penalties. In each of the Orders, the Commission also created a Fair Fund, pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002, so the penalties collected can be distributed to harmed investors. In the Fluor Order, the Commission ordered that the Fair Fund created may be combined with or receive funds from proceedings arising out of the same conduct that is the subject of the order; and in each of the Best, Brittain, Chopra, Scott, and Smith Orders, the Commission ordered that the Fair Fund created may be combined with the Fair Fund created in the Fluor Order.

If you purchased or acquired shares of Fluor Corporation common stock traded under the symbol FLR between March 6, 2016 and February 17, 2020, inclusive, and held through one or both relevant corrective disclosures on August 1, 2019 and February 18, 2020, and suffered losses, you may be eligible for a payment.

To be considered for a Distribution Payment, you must submit a completed and signed Claim Form along with all required supporting documentation, to the Fund Administrator by 11:59 p.m. ET on December 30, 2024. Investors who did not suffer a loss on their investment in Fluor Corporation common stock are not eligible to receive a payment. The Claim Form is available at the Fluor Fair Fund website www.FluorFairFund.com. Electronic claim submission is strongly encouraged and can be done through the Fair Fund website. Please refer to the Plan Notice for instructions on how to submit your claim by mail.

Additional information regarding the Fair Fund, including the Plan of Distribution and other materials, is available at the Fair Fund website, or by contacting the Fund Administrator toll‑free at 1‑855-680-7297, by email at [email protected], or by writing to the above address. Please check the Fair Fund website frequently for updates.

SOURCE JND Legal Administration