Core Viewpoint - Fortrea Holdings Inc. is facing a class action securities lawsuit due to alleged securities fraud that affected investors between July 3, 2023, and February 28, 2025 [1][2]. Group 1: Allegations and Impact - The lawsuit claims that Fortrea Holdings Inc. overestimated revenue contributions from its long-term projects, known as the Pre-Spin Projects, for the year 2025 [2]. - It is alleged that the company overstated potential cost savings from exiting transition services agreements, leading to inflated EBITDA targets for 2025 [2]. - The viability of Fortrea's post-spin-off business model and its financial prospects were reportedly overstated, resulting in materially false and misleading public statements [2]. Group 2: Legal Process and Participation - Investors who suffered losses during the specified timeframe have until August 1, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require this role [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees, with no obligation to participate [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years [4]. - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the leading securities litigation firms in the United States [4].

Core Viewpoint - Fortrea Holdings Inc. is facing a federal securities class action lawsuit due to allegations of misleading statements regarding its financial performance and business model, particularly concerning its revenue projections and cost savings [5][3]. Group 1: Legal Investigation and Class Action - Faruqi & Faruqi, LLP is investigating potential claims against Fortrea and has set an August 1, 2025 deadline for investors to seek the role of lead plaintiff in the class action [3]. - Investors who suffered losses exceeding $50,000 in Fortrea between July 3, 2023, and February 28, 2025, are encouraged to contact the firm for legal options [1]. Group 2: Allegations Against Fortrea - The complaint alleges that Fortrea overestimated revenue contributions from Pre-Spin Projects and overstated cost savings from exiting Transition Service Agreements (TSAs), leading to inflated EBITDA targets for 2025 [5]. - The company's public statements regarding its business model and financial prospects were deemed materially false and misleading [5]. Group 3: Stock Performance and Analyst Downgrades - On September 25, 2024, Jefferies downgraded Fortrea from buy to hold, citing weaknesses in its business model and a decline in stock price by $2.73 (12.29%) to $19.48 [6]. - Following the cancellation of two scheduled conferences, Baird Equity Research downgraded Fortrea to neutral on December 6, 2024, resulting in a stock price drop of $1.90 (8.06%) to $21.67 [7]. - Fortrea's fourth quarter and full year 2024 results revealed that its revenue and adjusted EBITDA expectations for 2025 were not aligned with prior forecasts, causing a significant stock price decline of $3.47 (25.05%) to $10.38 on March 3, 2025 [8].

Core Insights - Fortrea has established a strategic partnership with Emery Pharma to support the detection of nitrosamine impurities, specifically 1-methyl-4-nitrosopiperazine (MNP), in the drug rifampicin for drug-drug interaction (DDI) studies [1][2] - The collaboration aims to ensure that impurity levels remain below the acceptable intake limits set by the FDA, thereby enhancing the safety and efficacy of clinical trials [1][2] Group 1: Partnership Details - Fortrea selected Emery Pharma due to its strong capabilities in analytical and bioanalytical testing, which will support Fortrea's global clinical projects [2] - The partnership allows sponsors to utilize rifampicin for DDI assessments, leveraging its excellent safety and tolerability profile [2] - The collaboration is expected to reduce early trial risks, accelerate trial timelines, and improve data quality [2] Group 2: Impurity Detection and Regulatory Compliance - The new impurity detection level for rifampicin is now available for Fortrea's clients conducting clinical pharmacology trials, designed to be flexible and compliant with FDA requirements [3] - The FDA previously identified that all tested batches of rifampicin exceeded acceptable MNP levels, prompting researchers to seek alternative drugs, which posed safety risks [2] - In 2023, the FDA updated guidelines, raising the acceptable limits for MNP in rifampicin [2] Group 3: Company Backgrounds - Fortrea is a leading global clinical development solutions provider, collaborating with biopharmaceutical, biotechnology, medical device, and diagnostic companies to expedite medical innovations [4] - Emery Pharma is recognized for its scientific leadership in impurity analysis and regulatory compliance, focusing on GLP and cGMP analytical testing [5][6] - Emery Pharma specializes in developing and validating sensitive and specific analytical methods for nitrosamine detection, playing a crucial role in helping pharmaceutical sponsors navigate evolving FDA and ICH guidelines [5][6]

Core Viewpoint - A lawsuit has been filed against Fortrea Holdings Inc. and its senior executives for potential violations of federal securities laws, following allegations of overstating cost savings and revenue projections related to transition services agreements after 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. It was spun off from Labcorp Holdings Inc. in June 2023 [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, as well as the revenue from pre-spin projects [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 Q4 and full-year 2024 financial results, 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].

Collaboration enables testing of nitrosamine impurities, allowing sponsors to demonstrate acceptable use of rifampin in drug-drug interaction studiesDURHAM, N.C., June 24, 2025 (GLOBE NEWSWIRE) -- Fortrea (Nasdaq: FTRE) (the “Company”), a leading global contract research organization (CRO), today announced a strategic collaboration with Emery Pharma, a leading analytical and bioanalytical CRO providing testing services under current Good Manufacturing Practice (cGMP) and Good Laboratory Practice (GLP), to p ...

Core Viewpoint - A class action has been filed against Fortrea Holdings, Inc. for allegedly misleading investors regarding the progress of its pre-spin projects and financial expectations [1][2]. Group 1: Company Background - Fortrea Holdings, Inc. is a global contract research organization (CRO) that provides biopharmaceutical product and medical device development solutions [1]. - The company was spun off from Labcorp Holdings Inc. in June 2023 and operates under several transition services agreements (TSAs) with Labcorp for various administrative and IT services [2]. Group 2: Financial Performance - On March 3, 2025, Fortrea announced that its revenue and adjusted EBITDA projections for 2025 were not meeting prior expectations, leading to a significant stock price drop of $3.47 per share, or 25.05%, closing at $10.38 [3]. - The company indicated that its pre-spin projects were late in their life cycle, contributing less revenue and profitability than anticipated for 2025, and that post-spin work was insufficient to offset the pre-spin contract economics [3]. Group 3: Allegations and Misstatements - The complaint alleges that Fortrea overestimated the revenue contributions from its pre-spin projects and overstated potential cost savings from exiting the TSAs, inflating its previously announced EBITDA targets for 2025 [4]. - The viability of Fortrea's post-spin business model and its financial prospects were also claimed to be overstated during the class period [4].

NEW YORK, June 23, 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=153678&from=3 CLASS PERIOD: Ju ...

NEW YORK, June 23, 2025 /PRNewswire/ -- 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=153670&from=4 The Gross Law Firm 1 ...

Core Viewpoint - A lawsuit has been filed against Fortrea Holdings Inc. and its senior executives for potential violations of federal securities laws, specifically related to the company's financial disclosures and performance claims [1][2]. Company Overview - Fortrea Holdings Inc. is a global contract research organization that provides biopharmaceutical product and medical device development solutions. It was spun off from Labcorp Holdings Inc. in June 2023 and entered into transition services agreements with Labcorp [3]. Allegations - The lawsuit alleges that Fortrea overstated the cost savings and margin improvements expected from exiting the transition services agreements, as well as the revenue from pre-spin projects [4]. Stock Performance - 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 [5]. - On March 3, 2025, Fortrea announced disappointing financial results for Q4 and the full year 2024, leading to a further decline in stock price by $3.47, or over 25%, from $13.85 to $10.38 [6].

Core Viewpoint - The comparison between Fortrea Holdings Inc. (FTRE) and Illumina (ILMN) indicates that FTRE may offer better value for investors based on various financial metrics and analyst outlooks [1][3][7]. Valuation Metrics - FTRE has a forward P/E ratio of 12.99, significantly lower than ILMN's forward P/E of 21.31 [5]. - FTRE's PEG ratio stands at 0.37, while ILMN's PEG ratio is 1.77, suggesting FTRE is expected to grow at a more favorable rate relative to its price [5]. - FTRE's P/B ratio is 0.57, compared to ILMN's P/B of 6.03, indicating FTRE is trading at a lower valuation relative to its book value [6]. Analyst Outlook - FTRE currently holds a Zacks Rank of 2 (Buy), reflecting an improving earnings estimate revision activity, while ILMN has a Zacks Rank of 3 (Hold) [3][7]. - The improving earnings outlook for FTRE positions it as a more attractive option for value investors [7].