Market Overview

Robbins Arroyo LLP: Fluor Corporation (FLR) Officers and Directors Breached Their Fiduciary Duties to Shareholders


Shareholder rights law firm Robbins Arroyo LLP announces that purchasers
of Fluor Corporation (NYSE:FLR) have filed a shareholder derivative
complaint against the company's officers and directors for breaches of
fiduciary duties beginning August 13, 2013 and continuing through the
present. Fluor provides engineering, procurement, construction,
fabrication, and modularization, commissioning and maintenance, and
project management services worldwide.

View this information on the law firm's Shareholder Rights Blog:

Fluor Accused of Misleading Investors About Its Business Prospects

According to the complaint, on August 14, 2013, Fluor announced that it
was starting a natural gas-fueled power station in Virginia and
subsequently reported encouraging prospects for other gas projects
around the country. For years, Fluor stated that its Oil & Gas group was
performing "extremely well" and noted a higher volume of project
execution activities, while failing to reveal that it was encountering
challenges with its gas-fired power projects. Then, on May 3, 2018,
Fluor reported a net loss of $18 million and slashed its guidance for
earnings per share from $3.10 to $3.50 per diluted share to $2.10 to
$2.50 per diluted share. Fluor also announced that it would stop
pursuing the gas-fired power market as 10 of its 12 gas-fired projects
initiated since 2003 had underperformed. On this news, Fluor's stock
fell over 22% to close at $45.76 per share on May 4, 2018.


Concerned shareholders who would like more information about their
rights and potential remedies can contact attorney Leonid Kandinov at
(800) 350-6003,,
or via the shareholder information form on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional investors
in shareholder derivative and securities class action lawsuits, and has
helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested. Sign up for our FREE
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