Core Viewpoint - Fortrea Holdings Inc. is facing a class action lawsuit due to allegations of issuing materially false and misleading statements regarding its financial projections and business model [3][4]. Group 1: Allegations - The complaint claims that Fortrea overestimated the revenue contributions from its long-term projects, known as the Pre-Spin Projects, for the year 2025 [3]. - It is alleged that Fortrea overstated the cost savings expected from exiting transition services agreements [3]. - The company's previously announced EBITDA targets for 2025 were inflated as a result of these misstatements [3]. - The viability of Fortrea's post-spin-off business model and its financial prospects were also overstated [3]. - Overall, the company's public statements were materially false and misleading throughout the relevant period [3]. Group 2: Class Action Details - The class period for the lawsuit is defined as July 3, 2023, to February 28, 2025 [3]. - Shareholders are encouraged to register for the class action by the deadline of August 1, 2025, to potentially become lead plaintiffs [4]. - Once registered, shareholders will receive updates through a portfolio monitoring software regarding the case's progress [4]. Group 3: Law Firm Information - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and fraud [5]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements [5].
Fortrea Holdings Inc. Sued for Securities Law Violations – Investors Should Contact The Gross Law Firm Before August 1, 2025 to Discuss Your Rights – FTRE