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 Lawsuit Details - The lawsuit claims that Fortrea overstated the cost savings and margin improvements expected from exiting transition services agreements with Labcorp, misleading investors about the company's financial health [4]. - The case is pending in the U.S. District Court for the Southern District of New York, titled Deslande v. Fortrea Holdings Inc., et al., No. 1:25-cv-04630 [2]. Group 3: Stock Performance and Market Reaction - Following a report from Jefferies on September 25, 2024, which indicated that Fortrea's anticipated cost savings were not as significant as previously claimed, the 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, leading to a further decline in stock price by $3.47, or over 25%, from $13.85 to $10.38 per share [6].
FTRE SHAREHOLDER ALERT: Suffer Losses on Fortrea Holdings Inc.? Contact BFA Law by August 1 Securities Fraud Class Action Deadline (NASDAQ:FTRE)