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.

The 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.

On December 12, 2023, the Commission appointed Miller Kaplan Arase LLP as the tax administrator (the “Tax Administrator”) for the Fair Fund to handle the tax obligations of the Fair Fund.

On February 28, 2024, the Commission appointed JND Legal Administration as the fund administrator for the Fair Fund (the “Fund Administrator”). The Fund Administrator will be responsible for administering the Fair Fund in accordance with the Plan.

The Plan of Distribution (the "Plan") sets forth the methodology and procedures for distributing the Net Available Fair Fund. The allocation methodology is substantially similar to the court-approved methodology developed for the Class Action. The Fund Administrator and Commission staff have concluded that distributing funds pursuant to the Plan, including but not limited to its Recognized Loss calculation and pro-rata distribution formula, is a fair and reasonable way to compensate investors injured as a result of the Respondents’ conduct.

The eligible Security is set forth below. Additional information can also be found in Exhibit A of the Plan of Distribution, accessible on the "Important Documents" tab of this website.

Yes. The Fund Administrator shall oversee the administration of the claims, procedures, and distribution as provided in the Plan. The Fund Administrator shall review all submitted claims and supporting documentation and make determinations under the criteria established therein as to the eligibility of Claimants to recover monies and the amount of money to be distributed from the Net Available Fair Fund to Eligible Claimants.

You must submit your Claim Form and supporting documentation electronically on this website, see the "Filing a Claim" tab at the top of this page, or mail your completed and signed Claim Form, together with all required supporting documentation, so that it is postmarked no later than December 30, 2024, addressed as follows:

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

Please do not submit original documents and please retain a copy of what you submit. If you fail to timely submit a completed and signed Claim Form by the deadline, you may be deemed ineligible to receive a distribution payment from the Fluor Fair Fund. The Claim Form must be accompanied by appropriate supporting documentation for each transaction listed on the Claim Form.

If you submit a Claim Form that fails to provide all required information, or is otherwise deficient, you may receive a Claim Status Notice advising you of the reason(s) why the claim is deficient and an opportunity to cure such deficiencies.

A Preliminary Claimant, who is not an Excluded Party, who submits a valid Claim Form and has suffered a Recognized Loss, as calculated by the Plan of Allocation, will be deemed an Eligible Claimant. The Plan of Allocation can be found in Exhibit A of the Plan of Distribution.

“Excluded Party” means:

1. The Respondents;
2. Present or former officers or directors of Respondents or any assigns, creditors, heirs, distributees, spouses, parents, dependent children or controlled entities of any of the foregoing Persons or entities;
3. Any employee or former employee of the Respondents or any of its affiliates who has been terminated for cause or has otherwise resigned, in connection with the conduct described in the Order;
4. Any Person who, as of the Claims Bar Date, has been the subject of criminal charges related to the conduct described in the Order or any related Commission action;
5. Any firm, trust, corporation, officer, or other entity in which Respondents has or had a controlling interest;
6. The Fund Administrator, its employees, and those Persons assisting the Fund Administrator in its role as the Fund Administrator; or
7. Any purchaser or assignee of another Person’s right to obtain a recovery from the Fair Fund for value; provided, however, that this provision will not be construed to exclude those Persons who obtained such a right by gift, inheritance or devise.

The Fund Administrator shall distribute the Net Available Fair Fund to all Eligible Claimants only after all timely submitted Proof of Claim Forms have been processed and all Claimants whose claims have been rejected or disallowed, in whole or in part, have been notified and provided the opportunity to cure pursuant to the procedures set forth in the Distribution Plan. The Claimants Recognized Loss will be calculated according to the Commissions approved Plan of Allocation.

If the Net Available Fair Fund is equal to or exceeds the sum of Recognized Losses of all Eligible Claimants, each Eligible Claimant’s distribution amount will equal his, her, or its Recognized Loss, plus any “Reasonable Interest” awarded. If the Net Available Fair Fund is less than the sum of the Recognized Losses of all Eligible Claimants, each Eligible Claimant’s distribution amount will equal his, her or its “Pro-Rata Percentage” of the Net Available Fair Fund. In either case, the distribution amount will be subject to the “Offset for Prior Recovery” and “Minimum Distribution Amount” ($20.00) provisions.

Additional information can be found by visiting the “Important Documents” tab at the top of this webpage and by contacting the Fund Administrator through either the "Contact Us" page of this website, calling toll-free at 1-855-680-7297, emailing info@FluorFairFund.com, or by mailing a letter to:

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