Fluor Enters Into Settlement Agreement With SEC; Agreed To Pay Civil Penalty Of $14.5M
Portfolio Pulse from Benzinga Newsdesk
Fluor Corporation has entered into a settlement agreement with the Securities and Exchange Commission (SEC), agreeing to pay a civil penalty of $14.5 million. The settlement pertains to the company's accounting on two lump sum engineering, procurement, and construction contracts. Fluor neither admitted nor denied the SEC's findings.
September 06, 2023 | 9:15 pm
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Fluor's settlement with the SEC could potentially impact investor confidence and the company's stock price in the short term.
The settlement, while resolving the issue, indicates that there were significant concerns about Fluor's accounting practices. This could potentially shake investor confidence and lead to a short-term drop in the company's stock price. However, the fact that the issue is now resolved may also provide some stability.
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IMPORTANCE 75
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