nuclear-news

Small nuclear reactor NuScam’s parent company Fluor sued over allegations of insider trading and deception

Fluor Board Sued Over Insider Trading, Accounting Allegations,    Mike Leonard, Legal Reporter,     Aug. 14, 2020, COURT: Del. Ch., TRACK DOCKET: No. 2020-0655 (Bloomberg Law Subscription, JUDGE: J. Travis Laster (Bloomberg Law Subscription), COMPANY INFO: Fluor Corp. (Bloomberg Law Subscripti

The board of Fluor Corp., a leading engineering and construction conglomerate that does significant business with the federal government, has been hit with a Delaware lawsuit claiming several of its members sold stock at inflated prices while conspiring to mask the company’s deteriorating finances.

“At the same time,” Fluor’s board and top executives “engaged in a pattern” of having the company “repurchase its own shares at over-inflated prices,” the 98-page Chancery Court complaint says. “This repurchase of inflated stock cost the company over $1.6 billion.”

The heavily redacted derivative suit, made public Wednesday, comes about three months after Fluor……….(subscribers only) https://news.bloomberglaw.com/mergers-and-antitrust/fluor-board-sued-over-insider-trading-accounting-allegations

September 3, 2020 - Posted by Christina Macpherson | Legal, secrets,lies and civil liberties, Small Modular Nuclear Reactors, USA