Fluor(US:FLR) Globenewswireยท2025-09-24 18:00Core Viewpoint - Fluor Corporation is facing a class action lawsuit due to alleged violations of the Securities Exchange Act of 1934, with claims of misleading statements and undisclosed costs related to several infrastructure projects [1][3]. Group 1: Class Action Details - The class action lawsuit is titled Maglione v. Fluor Corporation, and it includes purchasers of Fluor securities from February 18, 2025, to July 31, 2025 [1]. - Investors have until November 14, 2025, to seek appointment as lead plaintiff in the lawsuit [1]. - The lawsuit alleges that Fluor's executives made false statements regarding the company's financial health and project costs [3]. Group 2: Allegations Against Fluor - Allegations include that costs for the Gordie Howe International Bridge and other projects were increasing due to subcontractor errors, price hikes, and scheduling delays [3]. - The lawsuit claims that these issues, along with reduced customer capital spending, negatively impacted Fluor's business and financial results [3]. - Fluor's financial guidance for fiscal year 2025 is described as unreliable and overstated regarding risk mitigation strategies [3]. Group 3: Financial Performance - On August 1, 2025, Fluor reported second quarter 2025 non-GAAP earnings per share of $0.43, missing estimates by $0.13, and revenue of $3.98 billion, a 5.9% year-over-year decline [4]. - The company attributed its disappointing results to rising costs in infrastructure projects and reduced capital spending by clients [4]. - Following the announcement of these results, Fluor's stock price fell by over 27% [4]. Group 4: Legal Representation - Robbins Geller Rudman & Dowd LLP is representing investors in the class action lawsuit and has a strong track record in securities fraud litigation [6]. - The firm has recovered over $2.5 billion for investors in 2024 alone, highlighting its capability in handling significant securities class action cases [6].