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.