Core Viewpoint - A class action lawsuit has been filed against Fortrea Holdings Inc. for alleged violations of securities laws, claiming the company made false and misleading statements regarding its financial performance and business model [1][4]. Group 1: Lawsuit Details - The lawsuit is initiated by the Schall Law Firm, focusing on violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 [1]. - Investors who purchased Fortrea's securities between July 3, 2023, and February 28, 2025, are encouraged to participate in the lawsuit before the deadline of August 1, 2025 [2]. Group 2: Allegations Against Fortrea - The complaint alleges that Fortrea overestimated potential revenue from projects initiated before its spinoff from Labcorp Holdings Inc. [4]. - The company is accused of overstating cost savings from exiting transition services agreements, leading to inflated EBITDA targets [4]. - Overall, the lawsuit claims that Fortrea's public statements were materially misleading, resulting in investor losses when the truth was revealed [4].
FTRE Investors Have Opportunity to Lead Fortrea Holdings Inc. Securities Fraud Lawsuit with the Schall Law Firm