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]
The Gross Law Firm Announces the Filing of a Securities Class Action on Behalf of Fortrea Holdings Inc.(FTRE) Shareholders