Please note: This website pertains to the Fair Fund SEC Administrative Proceeding filed against Fluor Corporation and the related respondents. The Fluor Securities Settlement (www.FluorSecuritiesSettlement.com) is separate from this Fair Fund. If you wish to be eligible for distribution from this Fair Fund you must submit a Claim, even if you previously submitted a claim for the Fluor Securities Settlement.

A Claim can be filed via the “File a Claim” tab on this website. The deadline to file a claim is December 30, 2024.

If you purchased Fluor Corporation common stock (FLR) between May 6, 2016 and February 17, 2020, and held through one or both of the relevant corrective disclosures, and suffered losses, you may be eligible for a Distribution Payment from the Fluor Fair Fund.

In addition to reviewing the information on this website, you should review the Plan Notice to Preliminary Claimants and the Plan of Distribution approved by the Court, both of which you can find on the “Important Documents” tab on this website.

You should visit this website often to get the most up-to-date information on the Fair Fund.

Overview

On September 6, 2023, the Commission issued Orders instituting and simultaneously settling cease-and-desist proceedings against Fluor and five former and current officers and employees (the “Respondents”). In the Orders, the Commission found that Respondents improperly accounted for two large-scale, fixed-price construction projects. Fluor bid on these projects, relying on overly optimistic cost and timing estimates. Following each project's contract award, Fluor experienced cost overruns that worsened over time. Yet, Fluor failed to maintain a system of internal accounting controls sufficient to account for these contracts in accordance with U.S. Generally Accepted Accounting Principles. These failings resulted in inaccurate books and records and ultimately in materially misstated financial statements included in periodic reports filed with the Commission.

In their respective Orders, the Commission ordered Fluor to pay $14,500,000; Best to pay $15,000; Brittain to pay $25,000; Chopra to pay $15,000; Scott to pay $25,000; and Smith to pay $20,000 in civil money penalties to the Commission, for a collective total of $14,600,000.00. In each of the Orders, the Commission also created a Fair Fund, pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002, so the penalties collected can be distributed to harmed investors. In the Fluor Order, the Commission ordered that the Fair Fund created may be combined with or receive funds from proceedings arising out of the same conduct that is the subject of the order; and in each of the Best, Brittain, Chopra, Scott, and Smith Orders, the Commission ordered that the Fair Fund created may be combined with the Fair Fund created in the Fluor Order.

To date, Respondents have paid a total of $14,599,980, and any additional funds collected from the Respondents pursuant to the Orders will be added to the Fair Fund. The Fair Fund has been deposited in a Commission-designated account at the United States Department of the Treasury, and any accrued interest will be added to the Fair Fund.

How do I obtain more information?

Detailed information about the Fair Fund is contained in the Plan Notice to Preliminary Claimants, a copy of which can be found on the "Important Documents" tab in the menu at the top of this webpage. Additional information can also be obtained by contacting the Fund Administrator using the "Contact Us" page of this website, calling toll-free 1-855-680-7297, emailing info@FluorFairFund.com, or mailing a letter to:

Fluor Fair Fund
c/o JND Legal Administration
P.O. Box 91499
Seattle, WA 98111

Inquiries should NOT be directed to the Court or the Clerk of the Court.