Globenewswire·2026-03-09 20:00Core Viewpoint - Fluor Corporation is named as a defendant in a securities class action related to NuScale Power Corporation, with significant allegations regarding its control and influence over NuScale during a period of substantial stock decline [1][2]. Group 1: Allegations Against Fluor Corporation - Fluor Corporation is alleged to have been a control person of NuScale, influencing its corporate actions and decisions, particularly regarding the partnership with ENTRA1 Energy LLC [2]. - The complaint highlights that ENTRA1 was a newly formed entity without a history in nuclear power projects, contradicting claims made by Fluor and NuScale about ENTRA1's expertise [2]. - Following the revelation of a $495 million payment to ENTRA1 and a quarterly net loss of $532 million, NuScale's stock price plummeted from over $57 to approximately $17, a decline exceeding 70% [1][2]. Group 2: Legal Context - The complaint charges Fluor under Section 20(a) of the Securities Exchange Act of 1934, which holds controlling persons liable for securities law violations [3]. - Fluor's ownership stake and influence over NuScale's board and management are cited as factors that allowed it to shape public disclosures regarding ENTRA1 and NuScale's commercialization strategy [3]. Group 3: Company Relationships and Control - Fluor was NuScale's largest single shareholder, holding a significant ownership stake and maintaining numerous commercial relationships with the company [6]. - Fluor exercised historical control over NuScale's corporate board and executive management, including influence over the CEO, who had a prior leadership role at Fluor [6].