Fluor Loses Suit, Plans $60-Million Charge

Fluor Corp., the biggest publicly traded U.S. construction and engineering company, said it would take a $60-million charge after losing a lawsuit.

A jury in federal court in New York awarded $28.8 million in damages to the developer of a luxury resort hotel in the Cayman Islands that had been sued by Fluor Daniel Caribbean, a Fluor Corp. subsidiary, in a contract dispute.

Aliso Viejo-based Fluor plans to take the charge to its second-quarter earnings. It also said it would appeal the verdict.