Investors of Fortrea Holdings Inc. Have Chance to Join Fraud Lawsuit Against Company
Opportunity for Fortrea Holdings Investors
In a significant development for investors of Fortrea Holdings Inc. (NASDAQ: FTRE), the Law Offices of Frank R. Cruz have announced that individuals who incurred losses related to the company may have the opportunity to lead a class action lawsuit due to alleged securities fraud. This lawsuit pertains to events that occurred between July 3, 2023, and February 28, 2025, during which the company is accused of misleading investors about its financial prospects and operational strategies.
Background on the Allegations
The lawsuit claims several misrepresentations made by Fortrea, primarily regarding its revenue forecasts from Pre-Spin Projects. Investors believe that Fortrea significantly inflated its anticipated revenues and neglected to disclose pertinent information that could affect investor decisions. It is alleged that:
1. The company overestimated the revenue contributions from its Pre-Spin Projects to its earnings for 2025.
2. Fortrea exaggerated the potential cost savings expected from exiting various Transition Services Agreements (TSAs).
3. Consequently, the previously projected Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) targets for 2025 were considered inflated.
4. The company’s post-Spin-Off business model, along with its financial prospects, was misrepresented, leading to misplaced investor confidence.
5. There were misleading statements regarding the company's operations and future prospects at various intervals during this timeline.
Investors who feel affected by this turn of events have until August 1, 2025, to take action as this is the deadline to participate as lead plaintiffs in the case.
What Should Investors Do?
Those who believe they experienced losses related to Fortrea Holdings Inc. can contact the Law Offices of Frank R. Cruz for further action. Investors interested in joining the lawsuit can reach out via email or phone, with the firm's representatives ready to assist in understanding the legal implications and process involved. The law firm has emphasized that no immediate action is required from investors wishing to be a part of the class action; they can choose to retain counsel or remain non-active class members once the class is certified.
Key Points for Participation
To join the lawsuit or learn more about it, interested parties should reach out to the Law Offices of Frank R. Cruz directly.
Include your mailing address, phone number, and the number of Fortrea shares purchased when making inquiries via email.
* Keep in mind that this press release acts as attorney advertising in certain jurisdictions, and it is important to understand the laws regarding legal representation in your location.
For more information or to initiate contact, investors can visit the law firm's website or follow updates on their social channels.
Conclusion
As the pursuit of justice unfolds, the Fortrea Holdings investors now have a platform to voice their grievances and potentially recover losses. The situation underscores the critical importance of transparency and accountability in the corporate world, especially for publicly traded companies like Fortrea Holdings Inc. As the deadline approaches, affected investors are urged to gather all necessary documentation and consult with legal experts to safeguard their interests in this ongoing legal matter.