According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that:
- Fortrea overestimated the amount of revenue the Pre-Spin Projects were likely to contribute to Fortrea’s 2025 earnings;
- Fortrea overstated the cost savings it would likely achieve by exiting the transition service agreements (“TSAs”);
- as a result, Fortrea’s previously announced EBITDA targets for 2025 were inflated;
- accordingly, the viability of Fortrea’s post-Spin-Off business model, as well as its business and/or financial prospects, were overstated; and
- as a result, Fortrea’s public statements were materially false and misleading at all relevant times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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