Hong Kong, Oct. 31, 2025 (GLOBE NEWSWIRE) -- Global Engine Group Holding Limited (the “Company”), a Hong Kong-headquartered integrated solutions provider in information communication technologies (“ICT”), today announced that it has received a notice (the “Notice”) from The Nasdaq Stock Market LLC (“Nasdaq”), dated October 27, 2025, stating that the Company is not in compliance with the requirement to maintain a minimum bid price of $1 per share as set forth under Nasdaq Listing Rule 5550(a)(2) (the “Minimu ...

Core Viewpoint - A class action lawsuit has been filed against Fluor Corporation (FLR) by Berger Montague on behalf of investors who acquired shares between February 18, 2025, and July 31, 2025, alleging that the company concealed significant cost overruns and execution problems on key infrastructure projects [1][3]. Company Overview - Fluor Corporation, headquartered in Irving, Texas, provides engineering, procurement, construction, and project management services globally, with its Urban Solutions segment being the largest revenue driver among its three segments [2]. Allegations and Issues - The lawsuit claims that FLR concealed substantial cost overruns and execution issues on major projects, including the Gordie Howe International Bridge and I-635/LBJ, which were affected by subcontractor errors, supply chain inflation, and construction delays [3]. - The company allegedly overstated its risk mitigation strategies while failing to disclose the full impact of reduced client spending and macroeconomic uncertainties [3]. Financial Performance - Despite the ongoing issues, FLR reaffirmed its financial guidance in May 2025. However, on August 1, 2025, the company reported second-quarter results that significantly missed expectations, with non-GAAP EPS of $0.43 (missing by $0.13) and revenue of $3.98 billion (missing by $570 million) [4]. - Following these disappointing results, FLR cut its full-year guidance, leading to a 27.04% drop in stock price to $41.42 on August 1, 2025, prompting analysts to downgrade the stock due to lost confidence in management's disclosures and project oversight [4].

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 class period from February 18, 2025, to July 31, 2025 [1][4]. Company Overview - Fluor Corporation provides engineering, procurement, construction, fabrication, modularization, and project management services, with notable infrastructure projects including the Gordie Howe International Bridge and various highways in Texas [3]. Allegations of the Lawsuit - The lawsuit alleges that Fluor failed to disclose increasing costs related to key infrastructure projects due to subcontractor design errors, price increases, and scheduling delays [4]. - It is claimed that these issues, along with reduced capital spending from customers and economic uncertainty, negatively impacted Fluor's business and financial results [4]. - The lawsuit also states that Fluor's financial guidance for fiscal year 2025 was deemed unreliable and that the effectiveness of its risk mitigation strategies was overstated [4]. 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 missed estimates by $570 million [5]. - Following the disappointing financial results, Fluor's stock price fell by more than 27% [5]. Lead Plaintiff 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 in the lawsuit [6]. - The lead plaintiff will represent the interests of all class members and can select a law firm of their choice for litigation [6].

Core Viewpoint - Fluor Corporation is facing a class action lawsuit for 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 a specified class period [1][3]. Group 1: Lawsuit Details - The class action lawsuit, titled Maglione v. Fluor Corporation, allows purchasers of Fluor securities from February 18, 2025, to July 31, 2025, to seek lead plaintiff status by November 14, 2025 [1]. - The lawsuit alleges that Fluor's costs for major infrastructure projects, including the Gordie Howe International Bridge and Texas highways, were increasing due to subcontractor errors, price hikes, and scheduling delays [2][3]. Group 2: Financial Impact - 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 is a 5.9% year-over-year decline and $570 million below expectations [4]. - Following the disappointing earnings report, Fluor's stock price dropped by over 27%, attributed to rising costs and reduced capital spending from clients [4]. Group 3: Allegations of Misleading Information - The lawsuit claims that Fluor's financial guidance for fiscal year 2025 was unrealistic and that the company overstated the effectiveness of its risk mitigation strategies while understating the impact of economic uncertainty on its business [3].

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][4]. 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][6]. - The lawsuit alleges that Fluor's executives failed to disclose rising costs associated with key infrastructure projects, which negatively impacted the company's financial outlook [4]. Group 2: Allegations Against Fluor - The lawsuit claims that costs for the Gordie Howe International Bridge and other projects increased due to subcontractor design errors, price hikes, and scheduling delays [4]. - It is alleged that these issues, along with reduced capital spending from customers, significantly affected Fluor's business and financial results [4]. - Fluor's second quarter 2025 results showed a 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, missing estimates by $570 million [5]. Group 3: Financial Impact - Following the disappointing earnings report, Fluor's stock price dropped by over 27% [5]. - The company provided a negatively revised financial outlook for fiscal year 2025, citing client hesitation due to economic uncertainty [5].