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]. 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 Performance - The lawsuit alleges that Fortrea overstated the cost savings and margin improvements expected from exiting transition services agreements (TSAs) 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 claimed, 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 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].

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. It was spun off from Labcorp Holdings Inc. in June 2023 [3]. Group 2: Allegations and Financial Impact - The lawsuit claims that Fortrea overstated 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, indicating 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].

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: Lawsuit Details - The lawsuit is pending in the U.S. District Court for the Southern District of New York, specifically titled Deslande v. Fortrea Holdings Inc., et al., No. 1:25-cv-04630 [2]. - Investors have until August 1, 2025, to request to be appointed to lead the case [2]. Group 2: Company Background - Fortrea is a global contract research organization that provides biopharmaceutical product and medical device development solutions, having been spun off from Labcorp in June 2023 [3]. Group 3: Allegations and Financial Impact - Allegations state that Fortrea exaggerated the cost savings and margin improvements expected from exiting transition services agreements, 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 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 results, leading to a further decline in stock price by $3.47, or over 25%, from $13.85 to $10.38 per share [6].

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][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].

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]. 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]. - Following 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 2: Allegations and Financial Performance - The lawsuit alleges that Fortrea overstated the cost savings and margin improvements expected from exiting the TSAs, as well as the revenue from pre-spin projects [4]. - On September 25, 2024, a report from Jefferies indicated that the anticipated cost savings from exiting the TSAs were not as significant as previously claimed, leading to a stock price decline of $2.73 per share, or over 12% [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, resulting in a further stock price decline of $3.47 per share, or over 25% [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]. 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 Performance - The lawsuit alleges that Fortrea overstated 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 claimed, 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 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].

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]. 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]. 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 financial results for Q4 and full year 2024, stating that pre-spin projects had lower revenue and profitability than expected, leading to a further decline in stock price by $3.47, or over 25%, from $13.85 to $10.38 per share [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 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].

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 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].

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].