Texas-Based Company to Pay $33 Million to Settle Fraud Class Action Lawsuit

U.S. District Court Judge Brantley Starr in the Northern District of Texas granted the motion for final approval on Tuesday for a $33 million securities fraud class action settlement between Fluor and its investors, according to a court document.

Investors accused the Irving, Texas-based company of misleading them about construction bidding strategy and scheduling, according to the order. 

Awards included $116,000 to the lead plantiff’s counsel and $2,000, $25,000 and $25,000 for the Wayne County Employees’ Retirement System, the Town of Fairfield Employees’ Retirement Plan and the Town of Fairfield Police and Firemen’s Retirement Plan, respectively. Those awards will come out of the settlement fund, according to court documents.

Read the source article at constructiondive.com