Eileen works closely with investors in securities cases and has over a decade of experience in the legal world. She received her law degree from American University in 2005.
Fluor Corporation Investor Lawsuit Investigation
After announcing SEC accounting probe, Fluor shares drop 25%
Our firm is investigating possible legal claims on behalf of Fluor Corporation investors. On February 18, 2020, Fluorannounced it was being investigated by the SEC for possible accounting and financial reporting errors, and that its 2019 10-K filing would be delayed as a result. On this news, Fluor stock dropped by over 25% in intraday trading.
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Fluor Probed by SEC, Delays 10-K Filing; Shares Plummet 25%
On February 18, 2020, Fluor disclosed that the Securities and Exchange Commission is investigating its accounting and financial reporting for the second quarter of 2019. As Fluor responds to requests for data by the SEC, the company is also reviewing prior period reporting. According to Executive Chairman Alan Boeckmann,
While we currently believe that the total dollar amount of the revenue and subsequent charges taken on this project was correct, we are reviewing whether the accounting and the financial reporting, along with a limited number of additional projects, was recognized in the appropriate reporting period.
Because Fluor says it is possible there are material errors in its prior period financial statements, the company will delay its 10-K filing until after February 2020.
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