FTRE SHAREHOLDERS: Fortrea Holdings Inc. Investors are Reminded of the Pending Securities Fraud Class Action – Contact BFA Law by August 1 Deadline (NASDAQ:FTRE)
NEW YORK, June 14, 2025 (GLOBE NEWSWIRE) — Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against Fortrea Holdings Inc. (NASDAQ: FTRE) and certain of the Company's senior executives for potential violations of the federal securities laws.
If you invested in Fortrea you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/fortrea-holdings-inc-class-action-lawsuit.
Investors have until August 1, 2025, to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors who purchased Fortrea securities. The case is pending in the U.S. District Court for the Southern District of New York and is captioned Deslande v. Fortrea Holdings Inc., et al. , No. 1:25-cv-04630.
Why was Fortrea Sued for Securities Fraud?
Fortrea is a global contract research organization that provides biopharmaceutical product and medical device development solutions. In June 2023, Fortrea was spun off into a standalone, publicly traded company by Labcorp Holdings Inc. ('Labcorp'). In connection with the spin-off, Fortrea entered into several transition services agreements (the 'TSAs'), pursuant to which it agreed to pay Labcorp for certain transitional services over a set period.
As alleged, Fortrea discussed the significant cost savings and margin improvements that would result from exiting the TSAs. In truth, Fortrea overstated the cost savings and margin improvement it would achieve by exiting the TSAs, as well as the amount of revenue it would generate from pre-spin projects.
The Stock Declines as the Truth is Revealed
On September 25, 2024, investment bank Jefferies published a report stating that the cost savings Fortrea would achieve from exiting the TSAs were '[n]ot as [m]aterial as [o]ne [m]ight [t]hink.' On this news, the price of Fortrea stock declined $2.73 per share, or over 12%, from a closing price of $22.21 per share on September 24, 2024, to $19.48 per share on September 25, 2024.
Then, on March 3, 2025, Fortrea announced disappointing Q4 and full year 2024 financial results, revealing that the company's pre-spin projects 'have less revenue and less profitability than expected for 2025' and that 'post-spin work is not coming on fast enough to offset the pre-spin contract economics.' On this news, the price of Fortrea stock declined $3.47 per share, or over 25%, from a closing price of $13.85 per share on February 28, 2025, to $10.38 per share on March 3, 2025, the next trading day.
Click here if you suffered losses: https://www.bfalaw.com/cases-investigations/fortrea-holdings-inc-class-action-lawsuit.
What Can You Do?
If you invested in Fortrea you may have legal options and are encouraged to submit your information to the firm.
All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.
Submit your information by visiting:
https://www.bfalaw.com/cases-investigations/fortrea-holdings-inc-class-action-lawsuit
Or contact:Ross Shikowitz
[email protected]
212-789-3619
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Associated Press
12 hours ago
- Associated Press
Kaplan Fox Reminds Fortrea Holdings Inc. (FTRE) Investors of a Securities Class Action Deadline on August 1, 2025
NEW YORK, NY - June 14, 2025 ( NEWMEDIAWIRE ) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Fortrea Holdings Inc. ('Fortrea' or the 'Company') (NASDAQ: FTRE) on behalf of investors that purchased or otherwise acquired Fortrea securities between July 3, 2023 and February 28, 2025 (the 'Class Period'). CLICK HERE TO JOIN THE CASE If you are an investor in Fortrea and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing [email protected] or by calling (646) 315-9003. DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than August 1, 2025 to serve as a lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery. On July 3, 2023, the start of the Class Period, Fortrea announced the completion of its spin-off from Labcorp Holdings Inc. ('Labcorp') (the 'Spin-Off') and Fortrea stock began trading as a separate public company. At the time of the Spin-Off certain long-term projects in Fortrea's portfolio remained ongoing (the 'Pre-Spin Projects'). On March 3, 2025, Fortrea announced financial results for its fourth quarter and full year 2024. The Company disclosed that 'targeted revenue and adjusted EBITDA trajectories for 2025 [were] not in line with [its] prior expectations.' During an earnings call that same day, the Company revealed that Pre-Spin projects are 'late in their life cycle [and] have less revenue and less profitability than expected for 2025' and that 'post-spin work is not coming on fast enough to offset the pre-spin contract economics.' The Company also said this will 'continue to negatively impact [Fortrea's] financial performance during 2025.' Following this news, the price of Fortrea stock fell $3.47 per share, or 25%, to close at $10.38 per share on March 3, 2025. The complaint alleges, among other things, that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Fortrea overestimated the amount of revenue the Pre-Spin Projects were likely to contribute to the Company's 2025 earnings; (ii) Fortrea overstated the cost savings it would likely achieve by exiting the transition service agreements, or TSAs, with Labcorp; (iii) as a result, the Company's previously announced EBITDA targets for 2025 were inflated; and (iv) the viability of the Company's post-Spin-Off business model, as well as its business and/or financial prospects, were overstated. WHY CONTACT KAPLAN FOX - Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey. With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand. Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. If you have any questions about this Notice, your rights, or your interests, please contact: CONTACT: Pamela A. Mayer KAPLAN FOX & KILSHEIMER LLP 800 Third Avenue, 38th Floor New York, New York 10022 (646) 315-9003 [email protected] Laurence D. King KAPLAN FOX & KILSHEIMER LLP 1999 Harrison Street, Suite 1560 Oakland, California 94612 (415) 772-4704 [email protected] Contacting or submitting information to Kaplan Fox & Kilsheimer LLP does not create an attorney-client relationship, nor an obligation on the part of Kaplan Fox to retain you as a client. View the original release on
Business Wire
14 hours ago
- Business Wire
Perma-Pipe International Holdings, Inc.公布2025會計年度第一季財務業績
德州斯普林--(BUSINESS WIRE)--(美國商業資訊)-- Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH)今天公布了截至2025年4月30日的第一季財務業績。 總裁兼執行長Saleh Sagr指出：「第一季銷售額為4670萬美元，較去年同期的3430萬美元成長1240萬美元，增幅36.2%。歸屬於普通股的淨收入為500萬美元，較上年第一季的140萬美元成長360萬美元，增幅達243%。」 Sagr先生繼續說道：「目前未完成訂單為1.311億美元，相較2025年1月31日的1.381億美元減少700萬美元。然而，相較2024年4月30日的6310萬美元，該公司的未完成訂單大幅增加6800萬美元，增幅達108%。我們對現有未完成訂單水準感到鼓舞，其仍為去年第一季末報告之未完成訂單水準的兩倍以上。」 總裁兼執行長Saleh Sagr表示：「第一季業績代表公司實現了前所未見的業務表現，無論是銷售額還是歸屬於普通股的淨收入，均為2017年從MFRI轉變為Perma-Pipe以來第一季的最高水準。此外，第一季歸屬於普通股的淨收入約占公司2024會計年度全年業績的55%。」 Sagr先生評論道：「我們對各市場的業務活動水準感到滿意，這推動了第一財季整體銷售額和收益的成長。此外，美洲和中東及北非(MENA)地區的業績表現令人振奮，兩個地區在第一季取得了不相上下的業績。」 Sagr先生總結道：「公司第一季業績的強勁表現為2025會計年度剩餘季度提供了顯著的發展動力。我們認為公司已做好充分準備，將繼續利用這一動力，進一步參與MENA地區的發展計畫，並在北美地區取得更多市場佔有率。」 2025會計年度第一季業績 截至2025年4月30日的三個月和2024年4月30日的三個月，淨銷售額分別為4670萬美元和3430萬美元。增加的1240萬美元（增幅36%）主要是由於中東和北美的銷售量增加。 截至2025年4月30日的三個月和2024年4月30日的三個月，毛利分別為1670萬美元（占淨銷售額的36%）和1050萬美元（占淨銷售額的31%）。增加的620萬美元主要是由於業務量增加以及產品組合帶來的更高利潤率。 截至2025年4月30日的三個月和2024年4月30日的三個月，一般和行政支出分別為770萬美元和610萬美元。增加的160萬美元是由於本季度薪資支出和專業服務費的增加。 截至2025年4月30日的三個月和2024年4月30日的三個月，銷售支出保持穩定，分別為110萬美元和120萬美元。 截至2025年4月30日的三個月和2024年4月30日的三個月，淨利息支出保持穩定，分別為40萬美元和50萬美元。 截至2025年4月30日的三個月和2024年4月30日的三個月，其他支出保持穩定，均低於10萬美元。 截至2025年4月30日的三個月和2024年4月30日的三個月，公司的有效稅率(ETR)分別為21%和30%。ETR的變動是由於各司法管轄區的盈虧構成不同。 截至2025年4月30日的三個月和2024年4月30日的三個月，歸屬於普通股的淨收入分別為500萬美元和140萬美元。增加的360萬美元主要是由於本季度銷售量增加以及更好的專案執行。 關於Perma-Pipe International Holdings, Inc. Perma-Pipe International Holdings, Inc.（簡稱「公司」）是針對石油和天然氣採集、區域供熱和製冷以及其他應用的預絕緣管道和洩漏偵測系統的全球領導者。公司利用其廣泛的工程和製造專長開發管道解決方案，以解決多種液體安全高效運輸的複雜挑戰。公司總計在六個國家的14個據點經營業務。 前瞻性陳述 本新聞稿中包含的某些陳述和其他資訊可以透過使用前瞻性術語來辨識，構成《1933年證券法》（修訂版）第27A條和《1934年證券交易法》（修訂版）第21E條所定義的「前瞻性陳述」，並受到其中包含的安全港條款的約束，包括但不限於有關公司未來預期業績和營運的陳述。這些陳述應被視為受到公司營運和業務環境中存在的許多風險和不確定性的影響。這些風險和不確定因素包括但不限於以下內容：(i)石油和天然氣價格的波動及其對公司產品客戶訂單量的影響；(ii)公司以優惠價格購買原物料並與供應商保持良好關係的能力；(iii)使用公司產品的政府專案支出減少，以及公司的非政府客戶在流動性和獲得資本資金方面面臨挑戰；(iv)公司償還債務和續延即將到期的國際信貸便利的能力；(v)公司有效執行策略計畫以及實現持續盈利和正現金流的能力；(vi)公司收取與中東專案有關的長期應收帳款的能力；(vii)公司解讀稅收法規和立法變化的能力；(viii)公司利用其淨經營虧損結轉的能力；(ix)由於公司在「超時」確認收入時估計不準確，導致以前記錄的收入和利潤逆轉；(x)公司未能建立和維護有效的財務報告內部控制；(xi)公司產品的訂單接收、執行、交付和驗收時間；(xii)公司就大額合約的進度帳單安排進行成功談判的能力；(xiii)現有競爭對手的激進定價以及新競爭對手進入公司經營的市場；(xiv)公司製造無潛在缺失產品的能力，以及向可能為公司提供有缺失材料的供應商追償的能力；(xv)公司未完成訂單中訂單的減少或取消；(xvi)公司國際業務營運特有的風險和不確定性；(xvii)公司吸引和留住高階管理人員和關鍵員工的能力；(xviii)公司實現成長計畫預期效益的能力；(xix)流行病和其他公共衛生危機對公司及其營運的影響；以及(xx)網路安全威脅對公司資訊技術系統的影響。請股東、潛在投資人和其他讀者在評估前瞻性陳述時仔細考量這些因素，並注意不要過分依賴此類前瞻性陳述。此處所做的前瞻性陳述僅反映本新聞稿發表之日的情況。無論是由於新資訊、未來事件還是其他原因，我們概不承擔公開更新任何前瞻性陳述的義務。有關可能影響我們業績的因素的更多詳細資訊，請參閱我們向美國證券交易委員會遞交的文件，這些文件可在 以及我們網站的「投資人中心」(Investor Center)部分( 公司財政年度截止日為每年1月31日。本報告所述2025年、2024年及2023年財務資料，分別對應截至2026年1月31日、2025年1月31日及2024年1月31日止的財務年度。 有關公司截至2025年1月31日財政年度財務業績的更多資訊，包括管理層對公司財務狀況和經營成果的討論與分析，載於公司截至2025年1月31日的10-Q表年報，這些資料將於本報告發表之日或前後遞交給美國證券交易委員會，並可透過 和 查閱。如欲瞭解更多資訊，請造訪公司網站。 PERMA-PIPE INTERNATIONAL HOLDINGS, INC.及子公司 簡明合併資產負債表 （以千為單位） （未經稽核） 2025年4月30日 2025年1月31日 資產 流動資產 $ 120,700 $ 108,802 長期資產 57,615 56,439 資產總額 $ 178,315 $ 165,241 負債與股東權益 流動負債 $ 61,751 $ 54,063 長期負債 26,459 28,073 負債總額 88,210 82,136 非控制權益 12,238 10,967 股東權益 77,867 72,138 負債和權益總額 $ 178,315 $ 165,241 Expand 免責聲明：本公告之原文版本乃官方授權版本。譯文僅供方便瞭解之用，煩請參照原文，原文版本乃唯一具法律效力之版本。
Indianapolis Star
19 hours ago
- Indianapolis Star
New to The Street Episode #671 Airs Tonight on Bloomberg Television at 6:30 PM EST Featuring FLOKI, Arrive AI (NASDAQ: ARAI), Health In Tech (NASDAQ: HIT), Vita Bella, and NRX Pharmaceuticals (NASDAQ: NRXP)
This week's episode is sponsored by The Sustainable Green Team's Waterless Garden (OTC:SGTM) and PetVivo Holdings, Inc.'s (NASDAQ:PETV) innovative SPRYNG™ product. NEW YORK CITY, NY / ACCESS Newswire / June 14, 2025 / New to The Street, the nationally syndicated business television series known for spotlighting innovation across sectors, announces the premiere of Episode #671 airing tonight on Bloomberg Television at 6:30 PM EST. This week's broadcast features five dynamic companies making waves across blockchain, AI, health tech, wellness, and pharmaceutical sectors: FLOKI – The globally recognized crypto and blockchain brand building Web3 utility through its DeFi ecosystem. Arrive AI (NASDAQ:ARAI) – Developer of a patented smart mailbox delivery platform, leading last-mile logistics innovation with its autonomous, AI-powered systems. Health In Tech (NASDAQ:HIT) – A pioneer in digital underwriting and quote-to-card technology for health insurance, transforming how plans are built and priced. Vita Bella – A wellness brand that continues to expand its national presence through health-focused lifestyle offerings. NRX Pharmaceuticals (NASDAQ:NRXP) – A late-stage pharmaceutical company advancing treatments for CNS disorders and respiratory distress. This week's featured corporate sponsors include: The Sustainable Green Team (OTC:SGTM) and its revolutionary Waterless Garden initiative for drought-resistant, sustainable landscaping. PetVivo Holdings, Inc. (NASDAQ:PETV), showcasing continued progress with its SPRYNG™, a veterinary injectable device for treating osteoarthritis in companion animals. Upcoming Highlights: New to The Street has also wrapped filming this week with several prominent brands: GLINT Pay (Private) – A disruptive gold-as-money platform allowing real-time gold transactions. Lahontan Gold Corp. (TSX.V:LG / OTCQB:LGCXF) – Canadian gold exploration company with high-grade assets in Nevada. Greer Consulting Group – Providing strategic solutions across regulatory compliance, M&A, and executive strategy. Special Feature Segment: A culinary showcase from two of New York City's most iconic dining destinations – Black Barn and Hunt & Fish Club – blending luxury hospitality with the business of restaurant branding. Additionally, special segments fromIMG Academy, Skip Barber Racing School, and KITON will continue to roll out in the coming months as part of New to The Street's ongoing coverage of elite performance, luxury, and innovation. Quote from Vince Caruso, Creator and Executive Producer of New to The Street: 'We continue to be a destination for innovative and publicly traded companies ready to tell their story at scale. Tonight's show blends AI, healthcare, crypto, and wellness with real national TV exposure. We're proud to feature these brands and grateful to our show sponsors for helping amplify their messages.' About New to The Street Since 2009, New to The Street has become one of the most trusted platforms for public and private companies to share their stories. The show combines sponsored programming with earned media, enhanced by iconic outdoor campaigns, nationwide TV commercials, and non-deal roadshows that connect executives with top-tier investors and institutions. With weekly reach across 220 million linear TV households, a growing 2.65 million YouTube subscribers, and a robust social media presence exceeding 700,000 followers across LinkedIn, Facebook, Instagram, and X, New to The Street delivers unparalleled exposure and credibility in the business media space. For more information, visit SOURCE: New To The Street View the original press release on ACCESS Newswire
