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Stockholder Alert: Robbins LLP Reminds Fluor Corporation Stockholders of the Class Action Against FLR and Encourages Investors to Seek More Information
Prnewswireยท 2025-10-08 23:43
Core Viewpoint - A class action has been filed against Fluor Corporation for allegedly misleading investors regarding its business prospects and financial guidance during a specific period in 2025 [1][2]. Allegations - The complaint alleges that Fluor failed to disclose increasing costs related to several infrastructure projects due to subcontractor design errors, price increases, and scheduling delays [1]. - It is claimed that customer reductions in capital spending and hesitance due to economic uncertainty were negatively impacting Fluor's business and financial results [1]. - The financial guidance provided by Fluor for FY 2025 was deemed unreliable, with overstated risk mitigation strategies and understated impacts of economic uncertainty [1]. Financial Results - On August 1, 2025, Fluor reported disappointing Q2 2025 financial results, attributing the poor performance to rising costs in infrastructure projects and reduced capital spending by clients [2]. - The adjusted EBITDA guidance was revised down to $475 million to $525 million from a previous range of $575 million to $675 million, and adjusted EPS was lowered to $1.95 to $2.15 from $2.25 to $2.75 [2]. - Following these disclosures, Fluor's stock price dropped by $15.35, or 27.04%, closing at $41.42 per share [2]. Class Action Participation - Shareholders may be eligible to participate in the class action against Fluor and must submit their papers by November 14, 2025, if they wish to serve as lead plaintiff [3]. - Participation in the case is not required to be eligible for recovery, allowing shareholders to remain absent class members if they choose [3].