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FLR INVESTOR NOTICE: Robbins Geller Rudman & Dowd LLP Announces that Fluor Corporation Investors with Substantial Losses Have Opportunity to Lead Investor Class Action Lawsuit
FluorFluor(US:FLR) Globenewswireยท2025-09-29 09:59

Core Viewpoint - Fluor Corporation is facing a class action lawsuit due to alleged violations of the Securities Exchange Act of 1934, with claims that the company and its executives made misleading statements regarding project costs and financial guidance during the specified class period [1][3]. Summary by Sections Class Action Details - The class action lawsuit is titled Maglione v. Fluor Corporation, No. 25-cv-02496 (N.D. Tex.), and it involves purchasers of Fluor securities from February 18, 2025, to July 31, 2025 [1]. - Interested parties have until November 14, 2025, to seek appointment as lead plaintiff in the lawsuit [1]. Allegations Against Fluor - The lawsuit alleges that Fluor failed to disclose increasing costs related to key infrastructure projects, including the Gordie Howe International Bridge and the I-635/LBJ and I-35 highways, due to subcontractor design errors, price increases, and scheduling delays [3]. - It is claimed that these issues, along with reduced capital spending from customers and economic uncertainty, negatively impacted Fluor's business and financial results [3]. - The lawsuit asserts that Fluor's financial guidance for fiscal year 2025 was unrealistic and that the effectiveness of its risk mitigation strategies was overstated [3]. Financial Performance - On August 1, 2025, Fluor reported second quarter 2025 non-GAAP earnings per share of $0.43, missing consensus estimates by $0.13, and revenue of $3.98 billion, which represented a 5.9% year-over-year decline and fell short of estimates by $570 million [4]. - The disappointing results were attributed to rising costs in infrastructure projects and reduced capital spending by clients, leading to a negatively revised financial outlook for fiscal year 2025 [4]. - Following the announcement of these results, Fluor's stock price dropped by over 27% [4]. Legal Process - The Private Securities Litigation Reform Act of 1995 allows any investor who purchased Fluor securities during the class period to seek appointment as lead plaintiff [5]. - The lead plaintiff will represent the interests of all class members and can select a law firm of their choice for litigation [5]. About Robbins Geller - Robbins Geller Rudman & Dowd LLP is a prominent law firm specializing in securities fraud and shareholder litigation, having secured over $2.5 billion for investors in 2024 alone [6]. - The firm has a strong track record in obtaining significant recoveries in securities class action cases, including the largest recovery in history of $7.2 billion in the Enron case [6].