secwatch.observer — SEC 8-K summary
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Issuer:     TUTOR PERINI CORP (TPC)
CIK:        0000077543
Form:       8-K
Filed at:   2022-12-09T23:59:59+00:00
Accession:  0000077543-22-000081
Event type: litigation
Sentiment:  negative
Materiality: 0.75
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Tutor Perini expects $43M charge from adverse appellate court ruling on NY project
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- Non-cash pre-tax charge of ~$43M in Q4 2022 from adverse appellate court decision on a 2012 NY transportation project.
- Charge relates to write-downs of costs and estimated earnings previously accrued for expected recovery on the project.
- Company believes it is legally entitled to collect substantially all amounts; intends to appeal to the New York Court of Appeals.
- Appeal is subject to the discretion of the New York Court of Appeals to accept the case.
- Project is in the Specialty Contractors segment; charge recorded consistent with accounting standards.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/77543/000007754322000081/0000077543-22-000081-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/77543/000007754322000081/tpc-20221209.htm
  HTML page:      https://secwatch.observer/filing/0000077543-22-000081

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