Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Fortrea Holdings Inc. (NASDAQ: FTRE) securities.
If you suffered a loss on your Fortrea Holdings Inc. investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Jul 03 2023 - Feb 28 2025
CASE DETAILS: The filed complaint alleges that Fortrea Holdings Inc. made 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.
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