Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Northern District of Texas on behalf of shareholders of Fluor Corporation who purchased shares between November 2, 2017 and February 14, 2020.
Fluor and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On February 18, 2020, the Company disclosed an SEC investigation into its revenue recognition practices related to sixteen 2019 projects and that its 10-K filing for 2019 would be delayed as a result, as well as the Company’s own internal investigation into the same.
On this news, the price of Fluor’s shares declined, damaging investors.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until April 28, 2020 to request that the court appoint them lead plaintiff.