PR Newswire
NEW YORK, Dec. 9, 2024
NEW YORK, Dec. 9, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Fortrea Holdings Inc. ("Fortrea" or the "Company") (NASDAQ: FTRE). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Fortrea and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On September 25, 2025, Jefferies downgraded Fortrea, citing perceived weaknesses in the Company's business model as a contract research organization amid pressure on biotechnology funding.
On this news, Fortrea's stock price fell $2.73 per share, or 12.29%, to close at $19.48 per share on September 25, 2024.
Then, on December 6, 2024, Baird downgraded Fortrea to neutral from outperform after the Company abruptly cancelled two scheduled conferences. A Baird analyst said that "[g]iven our ongoing concerns around the sector, [Fortrea's] choppy history post spin, and lack of clarity on the abrupt communications course change, we cannot recommend an actionable investment (buy or sell)[.]"
On this news, Fortrea's stock price fell $1.90 per share, or 8.06%, to close at $21.67 per share on December 6, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980
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SOURCE Pomerantz LLP
