NEW YORK, June 11, 2018 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Fluor Corporation ("Fluor" or the "Company") (NYSE: FLR). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Fluor and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On May 3, 2018, Fluor reported a quarterly net loss of $18 million ($0.13 per diluted share) and disclosed, among other financial and operating results, "an after-tax charge of approximately $96 million, or $0.69 per diluted share, for forecast revisions on a gas-fired power project." Additionally, the Company lowered its 2018 earnings per share guidance from $3.10 – $3.50 per diluted share to $2.10 – $2.50 per diluted share, "due in large part to forecast revisions on a gas-fired power project."
On this news, Fluor's share price fell $13.23, or over 22%, to close at $45.76 on May 4, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 9980
SOURCE Pomerantz LLP