1. Class action filed against FTRE for misleading statements. 2. Alleges revenue overestimation and inflated EBITDA targets. 3. Investors from July 2023 to February 2025 are encouraged to register. 4. Next steps include monitoring updates for participating shareholders. 5. Deadline for lead plaintiff appointment is August 1, 2025.
The misleading statements potentially undermine investor confidence, possibly leading to a significant valuation drop, akin to other firms facing similar allegations which saw immediate stock price declines historically.
The allegations directly challenge FTRE's financial metrics and management credibility, crucial for investor decisions; given prior cases, this could affect the company's valuation and stock performance significantly.
The ongoing class action could result in sustained reputational damage for FTRE, affecting stock price for years, similar to cases where companies took years to recover financially from lawsuits.
/PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Fortrea Holdings Inc. (NASDAQ: FTRE).
Shareholders who purchased shares of FTRE during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.
CONTACT US HERE: https://securitiesclasslaw.com/securities/fortrea-holdings-inc-loss-submission-form/?id=156350&from=4
CLASS PERIOD: July 3, 2023 to February 28, 2025
ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) Fortrea overestimated the amount of revenue the long-term projects in its portfolio, the Pre-Spin Projects, were likely to contribute to the Company's 2025 earnings; (ii) Fortrea overstated the cost savings it would likely achieve by exiting the transition services agreements; (iii) as a result, the Company's previously announced EBITDA targets for 2025 were inflated; (iv) accordingly, the viability of the Company's post-spin-off business model, as well as its business and/or financial prospects, were overstated; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
DEADLINE: August 1, 2025. Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/fortrea-holdings-inc-loss-submission-form/?id=156350&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of FTRE during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is August 1, 2025. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: The Gross Law Firm, 15 West 38th Street, 12th floor, New York, NY, 10018 Email: info@grosslawfirm.com Phone: (646) 453-8903
SOURCE The Gross Law Firm