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id: 323, Created by Stan Vick, Scout

Fluor Corporation

Claim deadline for this case already passed by, but we can still try and file for compensation for you
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N.D. Texas
14 Aug 2013
Class period Start
14 Feb 2020
Class period End
14 Oct 2022
Claim deadline
Chun v. Fluor Corporation, et al.

Fluor agreed to pay $33 million to settle a securities class action lawsuit accusing the Company of deceiving investors regarding the bidding, construction, accounting treatment, and financial reporting concerning large, fixed-price projects.

Particularly, the complaint alleged that:
  • Fluor’s fixed price bids appropriately accounted for any risks, that projects were on track and if any issues existed, they were confined to a single project or business segment, and Fluor’s internal controls over financial reporting were effective and financial results were GAAP-compliant.
  • later statements about flawed bidding processes and financial reporting issues related to fixed-price projects contradicted these representations and/or omissions.
  • conduct, which was unbeknownst to investors, resulted in financial charges that led to investigations by the SEC and DOJ and that resulted in a restatement of four years of financial statements.
  • the Company had actual knowledge of, or recklessly disregarded the falsity of the misrepresentations given, among other things, their involvement in the bidding process, approval of bids, and active involvement in the construction phase of projects.
  • the Company was motivated to conceal this information so that could reap tens of millions in executive bonuses that rewarded manufactured, low-ball bids, and net tens of millions in ill-gotten gains from transactions in Fluor stocks, options, and stock-related units.
  • The revelation of alleged fraud caused statistically significant stock declines, thereby injuring investors.
Fluor agreed to settle with investors to avoid further litigation.
Alleged Offence
Suspected Party
Security Type
Trade Direction
Lead plaintiff
Kin-Yip Chun, Wayne County Employees' Retirement System
Pomerantz LLP, Robbins Geller Rudman & Dowd LLP
Hon.Brantley Starr
JND Legal Administration
Court hearing date
07 November 2022
Total Settlement Amount
Created by Stan Vick, Scout

Case history

Stan Vick
21 September 2023
$FLR Shareholder Settlement Update:
  • A federal judge in Texas gave the green light for partial final approval of a settlement that resolves a derivative lawsuit against the top executives of Fluor Corp.
  • The lawsuit alleged that these executives had concealed Fluor's shady bidding practices for years, resulting in billions of dollars in losses for $FLR.

Fluor Corporation

Fluor Corporation provides engineering, procurement, and construction (EPC); fabrication and modularization; operation and maintenance; asset integrity; and project management services worldwide. I...

    Engineering & Construction
    6700 Las Colinas Boulevard, Irving, TX, United States, 75039