BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the July 24, 2018 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased Fluor Corporation (“Fluor” or the “Company”) (NYSE: FLR) securities between August 14, 2013 and May 3, 2018, inclusive (the “Class Period”). Fluor investors have until July 24, 2018 to file a lead plaintiff motion.
Investors suffering losses on their Fluor investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to firstname.lastname@example.org.
On May 3, 2018, Fluor issued a press release announcing its first quarter 2018 financial results, and disclosing an after-tax charge of approximately $96 million for forecast revision on a gas-fired power project. Fluor revised its 2018 guidance for Earnings Per Share to $2.10-$2.50 per diluted share. On this news, shares of Fluor fell more than 22% to close at $45.76 on May 4, 2018, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Fluor's bidding process for gas-fired power projects was flawed; (2) Fluor had improperly estimated the gas-fired projects; (3) consequently, Fluor would face craft productivity, equipment, and other execution issues; (4) Fluor would incur multiple charges impacting quarterly results; (5) Fluor would ultimately decide to discontinue the pursuit of the gas-fired power market; and (6) as a result, defendants' statements about Fluor's business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
If you purchased shares of Fluor during the Class Period you may move the Court no later than July 24, 2018 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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