#USA #New York #Levi & Korsinsky #Securities Fraud #Fortrea Holdings

Levi & Korsinsky Files Class Action Lawsuit for Fortrea Holdings

In a significant development for investors, Levi & Korsinsky, LLP has announced a class action lawsuit on behalf of shareholders of Fortrea Holdings Inc. (NASDAQ: FTRE). This action addresses concerns raised by investors who believe they have suffered losses due to purported securities fraud committed by the company.

Class Definition and Background

The class action specifically targets investors who held shares of Fortrea between July 3, 2023, and February 28, 2025. The legal complaint alleges that during this period, the company made misleading statements regarding its financial health and business forecasts.

The lawsuit asserts that Fortrea Holdings significantly overstated expected revenue contributions from several long-term projects, termed as the Pre-Spin Projects. It is claimed that the company exaggerated its projected savings from leaving transition services agreements, which led to inflated EBITDA targets for 2025. As a result, the overall business model and financial forecasts communicated to the public were misleading and instigated a false sense of security among investors.

Allegations and Their Implications

The defendants in the lawsuit are accused of knowingly withholding crucial information, thereby misleading shareholders and impacting investment decisions unfairly. This alleged misconduct has caused considerable financial harm to investors who bought shares during the specified timeframe.

Key points highlighted in the lawsuit include:
1. Overestimated Revenue Projections: The anticipated earnings from Fortrea’s projects were misrepresented, leading to unrealistic revenue expectations.
2. Misstated Cost Savings: The purported financial advantages of ending transition arrangements were significantly exaggerated.
3. Inflated Business Viability Claims: The overall business model's viability, post-spin-off, was overstated, misleading investors about the company's long-term prospects.

These accusations pose serious implications for both the company and its shareholders, possibly impacting the stock price significantly as the legal proceedings unfold.

Next Steps for Investors

Investors who may have experienced losses during this period are encouraged to act promptly. The deadline to request the Court to appoint them as lead plaintiffs is August 1, 2025. Interestingly, investors can participate in potential recoveries from the lawsuit without the necessity of taking on the lead plaintiff role, thus providing an accessible route for involvement.

Levi & Korsinsky assures that there is no out-of-pocket cost for class members who join this lawsuit.

Why Choose Levi & Korsinsky?

With over two decades of experience, Levi & Korsinsky has carved a niche as a formidable advocate for shareholders, recovering hundreds of millions in various high-stakes cases. The firm’s expertise in complex securities litigation ensures a robust representation for its clients. Ranking consistently among the top securities litigation firms in the United States, its established reputation adds another layer of confidence for potential class members.

Conclusion

As the landscape of corporate accountability continues to evolve, the latest class action against Fortrea Holdings Inc. serves as a reminder of the significant risks associated with investing in publicly traded companies. Investors must remain vigilant about the information provided, and legal recourse is an essential tool for safeguarding their interests. For more information on how to proceed, please contact Levi & Korsinsky at (212) 363-7500 or via their website.

This lawsuit not only underscores the importance of transparency in corporate practices but also exemplifies shareholders' rights to seek justice in the face of corporate misconduct.