Core Viewpoint - A lawsuit has been filed against Fortrea Holdings Inc. and its senior executives for potential violations of federal securities laws, stemming from allegations of overstating cost savings and revenue projections related to transition services agreements following 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 [3]. - The company was spun off from Labcorp Holdings Inc. in June 2023, becoming a standalone publicly traded entity [3]. Group 2: Allegations and Financial Impact - The lawsuit claims that Fortrea exaggerated the cost savings and margin improvements expected from exiting transition services agreements with Labcorp [4]. - 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 per share [5]. - On March 3, 2025, Fortrea announced disappointing financial results for Q4 and full year 2024, revealing lower-than-expected revenue and profitability from pre-spin projects, leading to a further decline in stock price by $3.47, or over 25%, from $13.85 to $10.38 per share [6].

Core Insights - Fortrea has established a strategic partnership with Emery Pharma to support the detection of nitrosamine impurities, specifically 1-methyl-4-nitrosopiperazine (MNP), in the drug rifampicin for drug-drug interaction (DDI) studies [1][2] - The collaboration aims to ensure that impurity levels remain below the acceptable intake limits set by the FDA, thereby enhancing the safety and efficacy of clinical trials [1][2] Group 1: Partnership Details - Fortrea selected Emery Pharma due to its strong capabilities in analytical and bioanalytical testing, which will support Fortrea's global clinical projects [2] - The partnership allows sponsors to utilize rifampicin for DDI assessments, leveraging its excellent safety and tolerability profile [2] - The collaboration is expected to reduce early trial risks, accelerate trial timelines, and improve data quality [2] Group 2: Impurity Detection and Regulatory Compliance - The new impurity detection level for rifampicin is now available for Fortrea's clients conducting clinical pharmacology trials, designed to be flexible and compliant with FDA requirements [3] - The FDA previously identified that all tested batches of rifampicin exceeded acceptable MNP levels, prompting researchers to seek alternative drugs, which posed safety risks [2] - In 2023, the FDA updated guidelines, raising the acceptable limits for MNP in rifampicin [2] Group 3: Company Backgrounds - Fortrea is a leading global clinical development solutions provider, collaborating with biopharmaceutical, biotechnology, medical device, and diagnostic companies to expedite medical innovations [4] - Emery Pharma is recognized for its scientific leadership in impurity analysis and regulatory compliance, focusing on GLP and cGMP analytical testing [5][6] - Emery Pharma specializes in developing and validating sensitive and specific analytical methods for nitrosamine detection, playing a crucial role in helping pharmaceutical sponsors navigate evolving FDA and ICH guidelines [5][6]

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 Financial Impact - The lawsuit claims that Fortrea exaggerated the cost savings and margin improvements expected from exiting transition services agreements with Labcorp, as well as the revenue from pre-spin projects [4]. - 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 per share [5]. - On March 3, 2025, Fortrea announced disappointing Q4 and full-year 2024 financial results, revealing lower-than-expected revenue and profitability from pre-spin projects, leading to a further decline in stock price by $3.47, or over 25%, from $13.85 to $10.38 per share [6].

Collaboration enables testing of nitrosamine impurities, allowing sponsors to demonstrate acceptable use of rifampin in drug-drug interaction studiesDURHAM, N.C., June 24, 2025 (GLOBE NEWSWIRE) -- Fortrea (Nasdaq: FTRE) (the “Company”), a leading global contract research organization (CRO), today announced a strategic collaboration with Emery Pharma, a leading analytical and bioanalytical CRO providing testing services under current Good Manufacturing Practice (cGMP) and Good Laboratory Practice (GLP), to p ...

Core Viewpoint - A lawsuit has been filed against Fortrea Holdings Inc. and its senior executives for potential violations of federal securities laws, specifically related to the company's financial disclosures and performance claims [1][2]. 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 and entered into transition services agreements with Labcorp [3]. Allegations - The lawsuit alleges that Fortrea overstated the cost savings and margin improvements expected from exiting the 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 the full year 2024, leading to a further decline in stock price by $3.47, or over 25%, from $13.85 to $10.38 [6].

Core Viewpoint - A lawsuit has been filed against Fortrea Holdings Inc. and its senior executives for potential violations of federal securities laws, specifically related to the company's financial disclosures and performance claims [1][2]. 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 and entered into transition services agreements with Labcorp [3]. Allegations - The lawsuit alleges that Fortrea overstated the cost savings and margin improvements expected from exiting the 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 the full year 2024, leading to a further decline in stock price by $3.47, or over 25%, from $13.85 to $10.38 [6].

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].

Core Viewpoint - Fortrea Holdings Inc. is facing a class action lawsuit due to alleged misleading statements and failure to disclose material adverse facts regarding its business performance and financial prospects during the class period from July 3, 2023, to February 28, 2025 [1][5]. Financial Performance - On March 3, 2025, Fortrea announced its financial results for the fourth quarter and full year 2024, reporting an adjusted EBITDA of $202.5 million, which was below the previously announced guidance of $220 million to $240 million [4]. - The company reported full year revenue of $2.696 billion, missing the guidance of $2.7 billion to $2.725 billion [4]. - For the full year 2025, Fortrea projected revenues between $2.450 billion and $2.550 billion and adjusted EBITDA in the range of $170 million to $200 million, indicating a decline from previous expectations [4]. Stock Price Movements - Following a downgrade by Jefferies on September 25, 2024, Fortrea's stock price fell by $2.73, or 12.3%, closing at $19.48 per share [2]. - On December 6, 2024, after Baird Equity Research expressed concerns about the company's performance, the stock price dropped by $1.90, or 8.1%, to close at $21.67 per share [3]. - After the disappointing financial results announcement on March 3, 2025, Fortrea shares fell by $3.47, or 25.1%, closing at $10.38 per share [4]. Allegations in the Lawsuit - The class action lawsuit alleges that Fortrea made materially false and misleading statements regarding its business model and financial projections, including overestimating revenue contributions from pre-spin projects and overstating cost savings from exiting transition services agreements [5]. - The lawsuit claims that the company's previously announced EBITDA targets for 2025 were inflated and that the viability of its post-spin business model was overstated [5].

Core Viewpoint - A lawsuit has been filed against Fortrea Holdings Inc. and its senior executives for potential violations of federal securities laws, alleging that the company overstated cost savings and revenue projections related to its transition services agreements with Labcorp [1][4]. Group 1: Lawsuit Details - The lawsuit 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, and investors have until August 1, 2025, to seek lead plaintiff status [2]. - The claims are based on Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, representing investors who purchased Fortrea securities [2]. Group 2: Company Background - Fortrea is a global contract research organization that was spun off from Labcorp Holdings Inc. in June 2023, becoming a standalone publicly traded company [3]. - As part of the spin-off, Fortrea entered into transition services agreements (TSAs) with Labcorp, agreeing to pay for certain transitional services over a specified period [3]. Group 3: Allegations and Stock Performance - Allegations state that Fortrea exaggerated the cost savings and margin improvements expected from exiting the TSAs, as well as the revenue from pre-spin projects [4]. - Following a report from Jefferies on September 25, 2024, which indicated that the anticipated cost savings were not as significant as claimed, Fortrea's stock 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 results, leading to a further decline in stock price by $3.47, or over 25%, from $13.85 to $10.38 per share [6].

NEW YORK, June 16, 2025 /PRNewswire/ --The Gross Law Firm issues the following notice to shareholders of Fortrea Holdings Inc. (NASDAQ: FTRE).Shareholders who purchased shares of FTRE during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/fortrea-holdings-inc-loss-submission-form/?id=152955&from=4CLASS PERIOD: July 3, 202 ...