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].
DEADLINE ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Fortrea Holdings