#USA #New York #Class Action #Levi Korsinsky #Fortrea Holdings

Levi & Korsinsky Alerts Investors of Class Action Against Fortrea Holdings Inc.

Levi & Korsinsky, LLP has recently notified shareholders of Fortrea Holdings Inc. (NASDAQ: FTRE) regarding a class action lawsuit aimed at recovering losses stemming from alleged securities fraud. This lawsuit is particularly important for investors who may have faced adverse effects due to misleading information presented by the company.

Overview of the Class Action

The class action seeks to address concerns raised over fraudulent statements made by Fortrea Holdings between July 3, 2023, and February 28, 2025. During this period, investors may have relied on inaccurate claims regarding the company's projected revenue and cost savings. The complaint filed in court asserts that Fortrea significantly overestimated the revenue contributions from certain long-term projects within its portfolio. The company also allegedly exaggerated the savings it would gain from exiting transition service agreements, thus inflating its 2025 earnings before interest, taxes, depreciation, and amortization (EBITDA) targets.

Details of the Complaint

The class action highlights several key points related to the fraudulent conduct of Fortrea Holdings:
1. Revenue Overestimation: Fortrea purportedly overestimated the revenue expectations from its Pre-Spin Projects, affecting its overall earnings projections.
2. Cost Savings Exaggerations: The lawsuit claims that Fortrea overstated its potential cost savings, leading to misstatements about its financial health.
3. Inflated EBITDA Targets: These misleading claims resulted in inflation of the company's EBITDA targets for the year 2025, raising concerns about the credibility of Fortrea's business model post-spin-off.
4. Misleading Information: The core of the allegations is that Fortrea's public statements misled investors throughout the relevant periods, thus affecting the stock's performance and investors’ decisions.

Next Steps for Affected Shareholders

Those who have suffered financial losses from their investments in Fortrea Holdings within the specified time frame have an opportunity to take action. They have until August 1, 2025, to apply for lead plaintiff status in the lawsuit. It is significant to note that an individual does not need to serve as a lead plaintiff to receive compensation. The legal team at Levi & Korsinsky will guide shareholders through the process without requiring any out-of-pocket expenses.

Why Choose Levi & Korsinsky

Levi & Korsinsky has built a solid reputation over the past two decades, helping investors recover hundreds of millions of dollars. The firm excels in complex securities litigation and has a dedicated team of over 70 professionals ready to assist clients. Their proven track record has placed them among the top securities litigation firms in the United States, as recognized in the ISS Securities Class Action Services' Top 50 Report for seven consecutive years.

Contact Information

If you believe that you qualify as a class member, it is advisable to reach out for more information. Investors can directly contact Levi & Korsinsky at:

• - Joseph E. Levi, Esq.
• - Email: [email protected]
• - Phone: (212) 363-7500
• - Address: 33 Whitehall Street, 17th Floor, New York, NY 10004

For further details, investors can also visit Levi & Korsinsky’s website for the submission form and additional resources related to the lawsuit.

This class action lawsuit aims to provide a pathway for investors who faced financial injuries due to the alleged misconduct of Fortrea Holdings Inc. Now is the time for affected shareholders to engage and seek justice in response to the misleading practices that have impacted their investments.