Core Viewpoint - Fortrea Holdings Inc. is facing potential legal claims due to allegations of misleading statements regarding its financial performance and business model, particularly related to its Pre-Spin Projects and cost savings from exiting Transitional Service Agreements (TSAs) [4]. Group 1: Legal Investigation and Class Action - Faruqi & Faruqi, LLP is investigating claims against Fortrea and has set an August 1, 2025 deadline for investors to seek lead plaintiff status in a federal securities class action [2]. - Investors who suffered losses in Fortrea between July 3, 2023, and February 28, 2025, are encouraged to contact the firm to discuss their legal options [1]. Group 2: Financial Performance and Stock Price Impact - The complaint alleges that Fortrea overestimated revenue contributions from Pre-Spin Projects and overstated cost savings from exiting TSAs, leading to inflated EBITDA targets for 2025 [4]. - Following a downgrade by Jefferies on September 25, 2024, Fortrea's stock price fell by $2.73, or 12.29%, closing at $19.48 per share [5]. - A subsequent downgrade by Baird on December 6, 2024, after the cancellation of two conferences, resulted in a further stock price decline of $1.90, or 8.06%, closing at $21.67 per share [6]. - On March 3, 2025, Fortrea announced that its revenue and adjusted EBITDA expectations for 2025 were not aligned with prior forecasts, leading to a significant stock price drop of $3.47, or 25.05%, closing at $10.38 per share [7].

Fortrea is a global contract research organization that provides biopharmaceutical product and medical device development solutions. In June 2023, Fortrea was spun off into a standalone, publicly traded company by Labcorp Holdings Inc. ("Labcorp"). In connection with the spin-off, Fortrea entered into several transition services agreements (the "TSAs"), pursuant to which it agreed to pay Labcorp for certain transitional services over a set period. As alleged, Fortrea discussed the significant cost savings a ...

NEW YORK, June 10, 2025 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Fortrea Holdings Inc. ("Fortrea Holdings Inc." or the "Company") (NASDAQ: FTRE) of a class action securities lawsuit.CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Fortrea Holdings Inc. investors who were adversely affected by alleged securities fraud between July 3, 2023 and February 28, 2025. Follow the link below to get more information and be contacted by a member of our team:https://zlk.com/pslra-1/f ...

Red Cat Holdings, Inc. (NASDAQ: RCAT) - Class action lawsuit initiated for stockholders covering the period from March 18, 2022, to January 15, 2025, with a lead plaintiff deadline of July 22, 2025 [2] - Allegations include misleading statements regarding the production capacity of Red Cat's Salt Lake City facility and the value of the Short Range Reconnaissance Program contract [3][4] - On July 27, 2023, Red Cat disclosed that its facility could only produce 100 drones per month, leading to a nearly 9% drop in stock price [4] - Financial results for Q1 FY2025 revealed losses per share of $0.17, missing estimates by $0.09, and revenue of $2.8 million, missing by $1.07 million, causing a more than 25% decline in stock price [5] - A report from Kerrisdale Capital on January 16, 2025, claimed the SRR contract was less favorable than previously indicated, resulting in a stock price drop of over 21% [6] Fortrea Holdings Inc. (NASDAQ: FTRE) - Class action lawsuit initiated for stockholders covering the period from July 3, 2023, to February 28, 2025, with a lead plaintiff deadline of August 1, 2025 [7] - Fortrea was spun off from Labcorp Holdings Inc. in June 2023, and entered into transition services agreements with Labcorp [7] - On March 3, 2025, Fortrea announced that its revenue and adjusted EBITDA expectations for 2025 were not aligned with prior forecasts, leading to a stock price drop of 25.05% [8] - Allegations include overestimating revenue from Pre-Spin projects and overstating cost savings from exiting TSAs, which inflated EBITDA targets and overstated the viability of the post-Spin-Off business model [9]

NEW YORK, June 09, 2025 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Fortrea Holdings Inc. (NASDAQ: FTRE). Shareholders who purchased shares of FTRE during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/fortrea-holdings-inc-loss-submission-form/?id=151931&from=3 CLASS PERIOD: Ju ...

NEW YORK, June 09, 2025 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, reminds Fortrea Holdings Inc. (“Fortrea” or the “Company”) (NASDAQ: FTRE) investors of an upcoming deadline involving a securities fraud class action lawsuit commenced against the Company. Should You Join This Class Action Lawsuit? Do you, or did you, own shares of Fortrea Holdings Inc. (NASDAQ: FTRE)?Did you purchase your shares between July 3, 2023 and February 28, 2024, inclusive?Did you l ...

Core Viewpoint - The Fortrea Holdings Inc. class action lawsuit alleges that the company and its executives made misleading statements regarding its financial performance and business model following its spin-off from Labcorp, leading to significant stock price declines [1][3][4][5][6]. Company Overview - Fortrea Holdings Inc. is a global clinical research organization (CRO) that provides development solutions for biopharmaceutical products and medical devices [2]. - The company was spun off from Labcorp Holdings Inc. in June 2023, becoming a standalone publicly traded entity [2]. Allegations of Misleading Statements - The lawsuit claims that Fortrea overestimated revenue contributions from ongoing projects and overstated cost savings from exiting transition services agreements (TSAs), inflating its EBITDA targets for 2025 [3]. - It is alleged that the viability of Fortrea's post-spin-off business model and financial prospects were overstated [3]. Stock Performance and Analyst Downgrades - On September 25, 2024, Jefferies downgraded Fortrea from buy to hold, citing weaknesses in its business model, which led to a stock price drop of over 12% [4]. - Following the cancellation of two scheduled conferences, Baird Equity Research downgraded Fortrea to neutral from outperform on December 6, 2024, resulting in an 8% decline in stock price [5]. - On March 3, 2025, Fortrea announced that its revenue and EBITDA projections for 2025 were not aligned with prior expectations, causing a further stock price drop of over 25% [6]. Legal Process for Lead Plaintiff - Investors who purchased Fortrea securities during the class period can seek appointment as lead plaintiff in the lawsuit, representing the interests of the class [7][8].

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Fortrea Holdings Inc. regarding a class action lawsuit alleging that the company made materially false and misleading statements during the class period from July 3, 2023, to February 28, 2025 [1] Allegations - The complaint alleges that Fortrea overestimated the revenue contributions from its long-term projects, known as the Pre-Spin Projects, to the company's 2025 earnings [1] - It is claimed that Fortrea overstated the cost savings expected from exiting transition services agreements [1] - The company's previously announced EBITDA targets for 2025 were allegedly inflated as a result of these misstatements [1] - The viability of Fortrea's post-spin-off business model and its financial prospects were also overstated [1] - Consequently, the company's public statements were materially false and misleading throughout the relevant period [1] Next Steps for Shareholders - Shareholders who purchased shares of FTRE during the specified timeframe are encouraged to register for the class action by August 1, 2025 [2] - Upon registration, shareholders will be enrolled in a portfolio monitoring software to receive updates on the case [2] - Participation in the case incurs no cost or obligation for the shareholders [2] About the Gross Law Firm - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting the rights of investors affected by deceit, fraud, and illegal business practices [3] - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements or omissions [3]

Core Viewpoint - A lawsuit has been filed against Fortrea Holdings Inc. and its senior executives for potential violations of federal securities laws, stemming from allegations of overstating cost savings and revenue projections related to transition services agreements following its spin-off from Labcorp [1][2][4]. Group 1: Company Background - Fortrea Holdings Inc. is a global contract research organization that provides biopharmaceutical product and medical device development solutions [3]. - The company was spun off from Labcorp Holdings Inc. in June 2023, becoming a standalone publicly traded entity [3]. Group 2: Allegations and Financial Impact - The lawsuit claims that Fortrea exaggerated the cost savings and margin improvements expected from exiting transition services agreements with Labcorp [4]. - Following a report from Jefferies on September 25, 2024, which indicated that the anticipated cost savings were not as significant as previously thought, Fortrea's stock price fell by $2.73, or over 12%, from $22.21 to $19.48 per share [5]. - On March 3, 2025, Fortrea announced disappointing financial results for Q4 and full year 2024, revealing lower-than-expected revenue and profitability from pre-spin projects, leading to a further decline in stock price by $3.47, or over 25%, from $13.85 to $10.38 per share [6].

Core Viewpoint - A class action lawsuit has been filed against Fortrea Holdings, Inc. and certain officers for alleged violations of federal securities laws during the Class Period from July 3, 2023, to February 28, 2025, seeking damages for misleading statements regarding the company's business and financial prospects [1][5]. Company Overview - Fortrea Holdings, Inc. is a global contract research organization (CRO) that provides development solutions for biopharmaceutical products and medical devices [3]. - The company was spun off from Labcorp Holdings Inc. in June 2023, becoming a standalone publicly traded entity [3]. - Fortrea claims to have the scale and expertise to deliver tailored solutions to its customers, with a portfolio of long-term projects that provide visibility into future revenues [3][4]. Financial Performance and Projections - In March 2024, Fortrea targeted an adjusted EBITDA margin of approximately 13% for 2025, which was later revised to a range of 11% to 12% in August 2024, still representing a projected increase of 30% to 40% in adjusted EBITDA dollars [5]. - Following the class action allegations, Fortrea's financial performance has been called into question, with claims that the company overestimated revenue contributions from Pre-Spin Projects and overstated cost savings from exiting transition services agreements (TSAs) [5][10]. Market Reactions and Analyst Reports - On September 25, 2024, Jefferies downgraded Fortrea from buy to hold, citing weaknesses in the company's business model amid pressures on biotechnology funding [6][7]. - Following a downgrade by Baird Equity Research on December 6, 2024, Fortrea's stock price fell significantly due to concerns about the company's communication and performance post-spin [8]. - On March 3, 2025, Fortrea announced that its revenue and adjusted EBITDA projections for 2025 were not aligning with prior expectations, leading to a substantial drop in stock price [9]. Credit Rating and Future Outlook - After the Class Period, Fitch Ratings downgraded Fortrea, projecting a 2025 EBITDA margin of 7.0% to 8.0%, a significant decline from earlier projections of 11% to 13% [10].