Kaskela Law is investigating Fortrea Holdings Inc. (Nasdaq: FTRE) (“Fortrea”) on behalf of the company’s long-term investors.
Recently a securities fraud complaint was filed against Fortrea on behalf of certain investors who purchased shares of the company’s stock between July 5, 2023 and February 28, 2025 (the “Wrongdoing Period”). According to the complaint, during the Wrongdoing Period, Fortrea and certain senior executive officers made a series of materially false and misleading statements to investors concerning Fortrea’s business, operations, and prospects following the Company’s July 2023 spin off from Labcorp Holdings.
As detailed in the complaint, on March 3, 2025, Fortrea reported disappointing quarterly financial and operational results, including revenue, adjusted EBITDA, and margin that all fell below analysts’ expectations for the quarter. Additionally, the company reduced its 2025 revenue guidance by approximately 7%, and reduced its 2025 EBITDA guidance by approximately 19%. On this news, shares of Fortrea’s stock fell 25% in value, to close at $10.38 per share on Monday, March 3, 2025, on unusually heavy trading volume.
The investigation seeks to determine whether the members of Fortrea’s board of directors violated the securities laws and/or breached their fiduciary duties in connection with the above alleged misconduct.
Fortrea shareholders who purchased or acquired their FTRE shares prior to February 28, 2025 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) for additional information about this investigation and their legal rights and options at (484) 229 – 0750, or by completing the form on this page.