Securities Fraud Investigation Into Fortrea Holdings Inc. (FTRE) Continues – Investors Who Lost Money Urged to Contact Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm
LOS ANGELES--(BUSINESS WIRE)-- Glancy Prongay & Murray LLP, a leading national shareholder rights law firm, continues its investigation on behalf of Fortrea Holdings Inc. ('Fortrea' or the 'Company') (NASDAQ: FTRE) investors concerning the Company's possible violations of the federal securities laws.
IF YOU ARE AN INVESTOR WHO LOST MONEY ON FORTREA HOLDINGS INC. (FTRE), CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS.
What Happened?
On March 3, 2025, Fortrea released its fourth quarter and full year 2024 financial results, revealing that projects from before the Company's spin-off from LabCorp are 'late in their life cycle 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 further revealed this 'older versus newer mix issue will continue to negatively impact [the Company's] financial performance during 2025.'
On this news, Fortrea's stock price fell $3.47, or 25.1%, to close at $10.38 per share on March 3, 2025, thereby injuring investors.
Then, on May 12, 2025, Fortrea released its first quarter 2025 financial results, reporting a non-cash goodwill impairment charge of $488.8 million. Additionally, the Company announced that its CEO 'is stepping down from his role.'
On this news, Fortrea's stock price fell $0.96, or 15.6%, to close at $5.19 per share on May 12, 2025, thereby injuring investors further.
Contact Us To Participate or Learn More:
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us.
Charles Linehan, Esq.,
Glancy Prongay & Murray LLP,
1925 Century Park East, Suite 2100,
Los Angeles, California 90067
Email: shareholders@glancylaw.com
Telephone: 310-201-9150 (Toll-Free: 888-773-9224)
Visit our website at www.glancylaw.com.
Follow us for updates on LinkedIn, Twitter, or Facebook.
Whistleblower Notice
Persons with non-public information regarding Fortrea should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program. Under the program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email shareholders@glancylaw.com.
About Glancy Prongay & Murray LLP
Glancy Prongay & Murray LLP ('GPM') is a premier law firm representing investors and consumers in securities litigation and other complex class action litigation. GPM has been consistently ranked in the Top 50 Securities Class Action Settlements by ISS Securities Class Action Services. In 2018, GPM was ranked a top five law firm in number of securities class action settlements, and a top six law firm for total dollar size of settlements.
With four offices across the country, GPM's nearly 40 attorneys have won groundbreaking rulings and recovered billions of dollars for investors and consumers in securities, antitrust, consumer, and employment class actions. GPM's lawyers have handled cases covering a wide spectrum of corporate misconduct and relating to nearly all industries and sectors. GPM's past successes have been widely covered by leading news and industry publications such as The Wall Street Journal, The Financial Times, Bloomberg Businessweek, Reuters, the Associated Press, Barron's, Investor's Business Daily, Forbes, and Money.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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