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]. 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 [3]. Legal Proceedings - The lawsuit is pending in the U.S. District Court for the Southern District of New York, with investors having until August 1, 2025, to seek lead plaintiff status [2]. Allegations - The complaint claims that Fortrea overstated the cost savings and margin improvements expected from exiting 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 full year 2024, leading to a further decline in stock price by $3.47, or over 25%, from $13.85 to $10.38 [6].
FTRE NOTICE: Did Fortrea Holdings Inc. Mislead Investors? Contact BFA Law by August 1 Court Deadline if You Suffered Losses (NASDAQ:FTRE)