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 www.kaplanfox.com.
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.
https://www.kaplanfox.com/case/fortrea-holdings-inc/
View the original release on www.newmediawire.com
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
20 minutes ago
- Yahoo
How Much the Average Middle-Class American Has Gained in the Stock Market Since Trump Announced His Tariffs
According to Gallup, 71% of middle-income Americans are invested in the stock market, and they've watched their fortunes rise and fall repeatedly during the volatile period since President Donald Trump announced his trade tariffs on April 2. But as the official start of summer approaches, those who resisted the urge to panic-sell during the frightening declines have largely seen their discipline pay off. Check Out: Read Next: It's impossible to gauge what the average middle-class investor might have gained or lost because the concept is a construct, regardless of the investor's socioeconomic class. Even if it were possible to put a dollar amount on the mean middle-class earner's stock investments, that would ignore critical variables like that investor's: Type, size and number of stock or fund holdings Portfolio makeup Portfolio diversity Degree of leverage from options trading or margin borrowing Trade frequency Fees and expenses Discover More: For context on just how differently two otherwise similar middle-class investors can perform, consider that Warner Bros Discovery Inc. (WBD) cratered on April 2 and retained a 24% overall loss through June 10. Conversely, Palantir Technologies Inc. (PLTR) has been one of the top performers in the post-tariff era, adding most of its 74% year-to-date gains since April 2. Two middle-class stock pickers with identical incomes and backgrounds who rolled the anti-diversification dice by purchasing identical amounts in either stock on April 1 would have had radically different outcomes between then and mid-June. A more reliable metric might be the major indices that so many middle-class households invest in through their 401(k)s, IRAs, index funds and ETFs. Between April 2 and June 10: The S&P 500, the benchmark index for the U.S. stock market, gained 6.16%. The Dow Jones Industrial Average, which tracks the blue chips, gained 1.31%. The tech-heavy and more volatile Nasdaq gained 11.57%. The FTSE All Cap Index, which includes much of the global stock market with 10,000 small-, mid- and large-cap companies in both developed and emerging markets, gained 7.22%. The average among all four is 6.57%, which is roughly what typical middle-class earners might have gained since April 2 if they followed the conventional advice of diversifying their portfolios with a blend of blue chips, growth stocks and foreign equities, and holding their positions regardless of market behavior. More From GOBankingRates 3 Luxury SUVs That Will Have Massive Price Drops in Summer 2025 Clever Ways To Save Money That Actually Work in 2025 7 Tax Loopholes the Rich Use To Pay Less and Build More Wealth This article originally appeared on How Much the Average Middle-Class American Has Gained in the Stock Market Since Trump Announced His Tariffs
Yahoo
34 minutes ago
- Yahoo
NHS faces paying more for US drugs to avoid future Trump tariffs
Britain faces paying more for US drugs as part of a deal to avoid future tariffs from Donald Trump. The NHS will review drug pricing to take into account the 'concerns of the president', according to documents released after a trade agreement was signed earlier this year. White House sources said it expected the NHS to pay higher prices for American drugs in an attempt to boost the interests of corporate America. A Westminster source said: 'There's an understanding that we would look at the drug pricing issue in the concerns of the president.' The disclosure is likely to increase concerns about American interference in the British health service, which has long been regarded as a flashpoint in trade talks. It comes after Rachel Reeves announced a record £29 billion investment in the NHS in last week's spending review. The Chancellor's plans will drive spending on the health service up towards 50 per cent of all taxpayer expenditure by the mid-2030s, according to economists at the Resolution Foundation. The Telegraph has also learnt that under the terms of the trade deal with America, the UK has agreed to take fewer Chinese drugs, in a clause similar to the 'veto' given to Mr Trump over Chinese investment in Britain. The White House has asked the UK for assurances that steel and pharmaceutical products exported to the US do not originate in China, amid fears the deal could be used to 'circumvent' Mr Trump's punishing tariffs on Beijing. Mr Trump is enraged by how much more America pays for drugs compared with other countries and considers it to be the same issue as he has raised on defence spending. Just as the US president has heaped pressure on European nations to increase the GDP share they allocate to defence, he thinks they should spend more on drug development. An industry source said: 'The way we've been thinking about it and many in the administration have been thinking about it, it's more like the model in Nato, where countries contribute some share of their GDP.' Britain and the US 'intend to promptly negotiate significantly preferential treatment outcomes on pharmaceuticals and pharmaceutical ingredients', the trade deal reads. Pharmaceutical companies are also pushing for reductions in the revenue sales rebates they pay to the NHS under the voluntary scheme for branded medicines pricing, access and growth (VPAG) – a mechanism that the UK uses to make sure the NHS does not overpay. Last week, Albert Bourla, Pfizer's chief executive, said non-US countries were 'free-riding' and called for a US government-led push to make other nations increase their proportionate spend on innovative medicines. He said White House officials were discussing drug prices in trade negotiations with other countries. 'We represent in UK 0.3pc of their GDP per capita. That's how much they spend on medicine. So yes, they can increase prices,' Mr Bourla said. Industry sources said there was no indication yet on what the White House would consider to be a fair level of spending. Whatever the benchmark, Britain will face one of the biggest step-ups. UK expenditure on new innovative medicines is just 0.28pc of its GDP, roughly a third of America's proportionate spending of 0.78pc of its GDP. Even among other G7 nations, the UK is an anomaly. Germany spends 0.4pc of its GDP while Italy spends 0.5pc. Most large pharmaceutical companies generate between half and three quarters of their profits in the US, despite the fact that America typically makes up less than a fifth of their sales. This is because drug prices outside of the US can cost as little as 30pc of what Americans pay. Yet, pharmaceutical companies rely on higher US prices to fund drug research and development, which the rest of the world benefits from. A month ago, Mr Trump signed an executive order titled 'Delivering Most-Favored-Nation Prescription Drug Pricing to American Patients', which hit out at 'global freeloading' on drug pricing. It stated that 'Americans should not be forced to subsidise low-cost prescription drugs and biologics in other developed countries, and face overcharges for the same products in the United States' and ordered his commerce secretary to 'consider all necessary action regarding the export of pharmaceutical drugs or precursor material that may be fuelling the global price discrimination'. Trung Huynh, the head of pharma analysis at UBS, said: 'The crux of this issue is Trump thinks that the US is subsidising the rest of the world with drug prices. 'The president has said he wants to equalise pricing between the US and ex-US. And the way he wants to do it is not necessarily to bring down US prices all the way to where ex-US prices are, but he wants to use trade and tariffs as a pressure point to get countries to increase their prices. 'If he can offset some of the price by increasing prices higher ex-US, then the prices in America don't have to go down so much.' Mr Huynh added: 'It's going to be very hard for him to do. Because [in the UK deal] it hinges on the NHS, which we know has got zero money.' Under VPAG, pharmaceutical companies hand back at least 23pc of their revenue from sales of branded medicines back to the NHS, worth £3bn in the past financial year. The industry is pushing for this clawback to be cut to 10pc, which would mean the NHS would have to spend around 1.54bn more on the same medicines on an annual basis. The Government has already committed to reviewing the scheme, a decision which is understood to pre-date US trade negotiations. A government spokesman said: 'This Government is clear that we will only ever sign trade agreements that align with the UK's national interests and to suggest otherwise would be misleading. 'The UK has well-established and effective mechanisms for managing the costs of medicines and has clear processes in place to mitigate risks to supply.'
Yahoo
35 minutes ago
- Yahoo
Cathie Wood sells $9.5 million of popular AI stocks after big rally
Cathie Wood sells $9.5 million of popular AI stocks after big rally originally appeared on TheStreet. Cathie Wood is known for making bold bets on the future of technology, and just as known for cashing out when the timing feels right. In the past week, the chief of Ark Investment Management trimmed some high-flying stocks, including one stock that's skyrocketed more than 270% and another that's climbed over 80% year-to-date. 💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰💵 Wood's funds have been through a volatile ride this year, swinging from strong gains to sharp losses, and now back to outperforming the broader market. In January and February, the Ark funds rallied as investors bet on the Trump administration's potential deregulation that could benefit Wood's tech bets. But the momentum faded in March and April, with the funds trailing the market as top holdings—especially Tesla, her biggest position—slid amid growing concerns over the macroeconomy and trade policies. Now, the fund is regaining momentum. As of June 13, the flagship Ark Innovation ETF () is up 8% year-to-date, outpacing the S&P 500's 1.6% gain. Wood had a remarkable gain of 153% in 2020, which helped build her reputation and attract loyal investors. Still, her long-term performance has made many others skeptical of her aggressive style. As of June 13, Ark Innovation ETF, with $5.5 billion under management, has delivered a five-year annualized return of 0.4%. In comparison, the S&P 500 has an annualized return of 16.2% over the same period. Wood's investment strategy is straightforward: Her Ark ETFs typically buy shares in emerging high-tech companies in fields such as artificial intelligence, blockchain, biomedical technology, and robotics. Wood says these companies have the potential to reshape industries, but their volatility leads to major fluctuations in Ark funds' Ark Innovation ETF wiped out $7 billion in investor wealth over the 10 years ending in 2024, according to an analysis by Morningstar's analyst Amy Arnott. That made it the third-biggest wealth destroyer among mutual funds and ETFs in Arnott's ranking. Wood recently said the U.S. is coming out of a three-year 'rolling recession' and heading into a productivity-led recovery that could trigger a broader bull market. In a letter to investors published in late April, she dismissed predictions of a recession dragging into 2026, as she expects "more clarity on tariffs, taxes, regulations, and interest rates over the next three to six months." "If the current tariff turmoil results in freer trade, as tariffs and non-tariff barriers come down in tandem with declines in other taxes, regulations, and interest rates, then real GDP growth and productivity should surprise on the high side of expectations at some point during the second half of this year," she wrote. She also struck an optimistic tone for tech stocks. "During the current turbulent transition in the US, we think consumers and businesses are likely to accelerate the shift to technologically enabled innovation platforms including artificial intelligence, robotics, energy storage, blockchain technology, and multiomics sequencing," she said. Investor confidence has wavered. Over the past year, the Ark Innovation ETF saw $2 billion in net outflows, as some investors grew wary of volatility and underperformance. But in a potential sign of renewed interest, the fund brought in $250 million in fresh capital between June 7 and June 12, according to ETF research firm VettaFi. On June 11, Wood's Ark funds sold 55,829 shares of Palantir Technologies () . That chunk of stock was valued at roughly $7.6 million. Palantir is known for providing AI-driven data analytics software to the U.S. government, military, and commercial clients company reported stronger first-quarter revenue in May and raised its full-year outlook as demand for AI tools increased. 'We are delivering the operating system for the modern enterprise in the era of AI,' CEO Alex Karp many tech stocks have struggled this year, Palantir has stood out. Its shares are up 81.7% in 2025 and just hit a record close of $137.40 on June 13. Much of the recent momentum comes from its government work. Back in May 2024, Palantir won a $480 million, five-year U.S. Army contract to build its Maven Smart System, which is a battlefield AI prototype. Last month, the Defense Department modified the contract, increasing the licensing ceiling from $480 million to $1.275 billion. Palantir's Foundry platform has been adopted by at least four federal agencies, including the Department of Homeland Security and the Department of Health and Human Services, according to a New York Times report published May 30. Fannie Mae also announced a partnership with Palantir in May to work on AI-based fraud detection. Palantir remains a core position for Wood even after recent sales. The stock is now the 8th largest holding in the ARK Innovation ETF, accounting for 4.7%. Wood said in February that she's moving away from hardware and infrastructure and doubling down on software, with Palantir as one of her top picks. 'Palantir is a very expensive stock, but there's nothing like it in the software space,' Wood said in a CNBC interview. 'It is, we believe, going to dominate the biggest part of the tech stack when it comes to AI. And that's the platform as a service part of the stack.' Another big trade Wood made on June 11 was selling 12,728 shares of CoreWeave Inc. () , valued at roughly $1.9 million. CoreWeave is a cloud infrastructure company specializing in GPU-accelerated computing for artificial intelligence and machine learning workloads. The company has delivered explosive growth and won support from Nvidia and March 28, CoreWeave launched its initial public offering, which was one of the largest AI-related listings since 2021. Since then, the stock is up more than 277%. That company is now Nvidia's largest holding, making up more than 78% of its disclosed portfolio. In the first quarter this year, Nvidia bought 24,182,460 shares after the IPO, according to data from WhaleWisdom based on 13F filings. On May 14, CoreWeave reported better-than-expected revenue on Wednesday in the company's first earnings release since going public. CoreWeave reported a 420% year-over-year revenue increase to $981.6 million for the first quarter. Despite this growth, the company's net loss widened to $314.6 million from $129.2 million a year earlier, partly driven by $177 million in stock-based compensation linked to its IPO. Bloomberg reporter Ryan Vlastelica commented that CoreWeave and Palantir are drawing comparisons to meme stocks after sharp rallies. But unlike GameStop, both are backed by strong demand. Still, valuations are a concern. Palantir trades at 71 times estimated sales, the highest in the S&P 500. CoreWeave, despite a $315 million loss last quarter, is valued at 10 times projected sales, well above the S&P 500's average of 3, Bloomberg reported. CoreWeave is not in Ark Innovation's top 10 holdings. Wood's recent trades also include buying shares of GitLab () , selling Kratos Defense () and Roblox () .Cathie Wood sells $9.5 million of popular AI stocks after big rally first appeared on TheStreet on Jun 15, 2025 This story was originally reported by TheStreet on Jun 15, 2025, where it first appeared.
