Class Action Filed Against Fortrea Holdings - August 1, 2025 Deadline to Join - Contact Faruqi & Faruqi
[You may also click here to find out if you qualify for the class action]
New York, New York--(Newsfile Corp. - July 27, 2025) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Fortrea Holdings Inc. ('Fortrea' or the 'Company') (NASDAQ: FTRE) and reminds investors of the August 1, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
[ This image cannot be displayed. Please visit the source: https://images.newsfilecorp.com/files/6455/260099_4fc3a426141e9832_001full.jpg ]
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Fortrea overestimated the amount of revenue the Pre-Spin Projects were likely to contribute to the Company's 2025 earnings; (2) Fortrea overstated the cost savings it would likely achieve by exiting the TSAs; (3) as a result, the Company's previously announced EBITDA targets for 2025 were inflated; (4) accordingly, the viability of the Company's post-Spin-Off business model, as well as its business and/or financial prospects, were overstated; and (5) as a result, the Company's public statements were materially false and misleading at all relevant times.
On September 25, 2024, the investment bank Jefferies published a report (the 'Jefferies Report') downgrading Fortrea from buy to hold. Among other things, the Jefferies Report cited perceived weaknesses in the Company's business model as a CRO amid pressure on biotechnology funding and suggested that the cost savings Fortrea expects to achieve by exiting the TSAs are 'not as material as [o]ne [m]ight think,' stating that 'IT infrastructure costs to exit the TSAs are already non-GAAPed out of adjusted EBITDA. Thus, once TSAs are exited, Fortrea will just be replacing TSA costs with internal operating costs.'
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, market analyst Baird Equity Research ('Baird') downgraded Fortrea to neutral from outperform after the Company abruptly cancelled two scheduled conferences. A Baird analyst said that 'given 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.
Finally, on March 3, 2025, Fortrea announced its fourth quarter and full year 2024 financial results, disclosing that its 'targeted revenue and adjusted EBITDA trajectories for 2025 [were] not in line with [its] prior expectations.' Specifically, in an earnings call held that same day, Fortrea revealed that the Company's 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 'older versus newer mix issue will continue to negatively impact Fortrea's financial performance during 2025.'
On this news, Fortrea's stock price fell $3.47 per share, or 25.05%, to close at $10.38 per share on March 3, 2025.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Fortrea's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Learn whether you may be eligible to participate in the Fortrea Holdings class action by visiting www.faruqilaw.com/FTRE or contacting Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
Follow us for updates on LinkedIn, on X, or on Facebook.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( www.faruqilaw.com ). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/260099
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
19 minutes ago
- Yahoo
Rivian vs. Lucid: 1 Reason Jim Cramer Likes One Stock Over the Other
Key Points Lucid closed a deal with Uber to power its robotaxi division. Wall Street veteran Jim Cramer is doubting the deal's long-term potential. Rivian may be a better buy due to a deal with VW. 10 stocks we like better than Lucid Group › Lucid Group (NASDAQ: LCID) soared in value following the announcement of its partnership with Uber Technologies. According to the deal's terms, Uber will invest $300 million in the electric vehicle (EV) maker. Uber also committed to purchase 20,000 vehicles from Lucid to kick-start its robotaxi division. Wall Street veteran Jim Cramer recently weighted in on the deal, and his take was surprising to many. He compared Lucid's deal with Uber to a partnership Rivian Automotive (NASDAQ: RIVN), another EV stock, made earlier this year. If you're invested in either Lucid or Rivian, you'll want to give Cramer's comments some consideration. How big is the Uber and Lucid partnership in reality? The details of Lucid's partnership with Uber are fairly straightforward. The latter says it is expecting to launch a robotaxi service later next year in a major U.S. city. To power this launch, Uber plans to order 20,000 Lucid Gravity SUVs over the next six years. According to a press release, the vehicles will be owned and operated by Uber or its third-party fleet partners and made available to riders exclusively via the Uber platform. To help Lucid scale up enough to produce this many vehicles, Uber also agreed to invest $300 million into the business. Around the same time, Lucid announced a 1-for-10 reverse stock split, but it's not clear how connected these two events are. While all of this looks promising on paper, there are two obvious problems. First, Uber's robotaxi division remains in its infancy. Whether it can actually grow big enough to acquire 20,000 Lucid vehicles remains a huge open question. Second, $300 million won't do much to keep Lucid financially viable over the next six years. While it ended 2024 with more than $6 billion in liquidity, the company also posted a net loss of $2.7 billion, roughly the same net loss it posted in 2023. A $300 million cash infusion is helpful, but it will hardly cure its ongoing financial challenges. Jim Cramer thinks Rivian's deal with Volkswagen is superior When Jim Cramer was asked about Lucid's partnership with Uber last week, he called the deal a "dalliance." In other words, he views it more as a short-term arrangement than a bona fide long-term partnership. "I think that you need a commitment, like the Volkswagen commitment to Rivian is extraordinary," Cramer said. "That's an open-ended check from one of the biggest car companies." He is referring to a joint venture between Volkswagen and Rivian that was announced in November 2024. The German automaker will receive crucial access to Rivian's software operating platform and technological back end. In exchange, Rivian receives up to $5.8 billion in funding. It's not hard to see the difference in commitments here. Uber is investing just $300 million into Lucid, with the promise of buying vehicles over the next six years. Rivian, meanwhile, is receiving up to $5.8 billion in funding by the end of 2027, starting with an immediate $1 billion convertible note. To be clear, Lucid's deal with Uber is still very exciting. ARK Investment CEO Cathie Wood eventually sees the robotaxi market being worth up to $10 trillion by 2030. But Rivian's deal with Volkswagen gives more credence to Rivian's tech stack and differentiation. If you're excited about the Uber-Lucid tie-up, be sure to dive into Rivian's and Volkswagen's partnership, as Cramer correctly points out. Should you invest $1,000 in Lucid Group right now? Before you buy stock in Lucid Group, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Lucid Group wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $636,628!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,063,471!* Now, it's worth noting Stock Advisor's total average return is 1,041% — a market-crushing outperformance compared to 183% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Ryan Vanzo has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Uber Technologies. The Motley Fool recommends Volkswagen Ag. The Motley Fool has a disclosure policy. Rivian vs. Lucid: 1 Reason Jim Cramer Likes One Stock Over the Other was originally published by The Motley Fool
Yahoo
19 minutes ago
- Yahoo
The clock is ticking on solar tax credits and All Energy Solar can help
MADISON, Wis., July 27, 2025 /PRNewswire/ -- Homeowners and businesses have a critical, rapidly approaching deadline to take advantage of the 30% federal solar tax credit: December 31, 2025. After this date, the Residential Clean Energy Credit will be eliminated entirely, and the Clean Energy Investment Tax Credit for commercial projects will be subject to new restrictions and early phase-out. All Energy Solar Inc. is urging people to act now to ensure their projects are completed in time to qualify for these significant savings. The recent "One Big, Beautiful Bill Act" abruptly cut short the federal solar tax credit, which was previously set to continue through 2034. This change creates a compressed timeline for those interested in investing in solar energy. For homeowners, this means a potential savings of an average of $9,000 will vanish in 2026. Businesses also face a limited window to capitalize on the full credit for renewable energy projects. "The phase-out of this federal tax credit is a big shift—not just for the solar industry, but for any homeowner or business thinking about going solar," said Ryan Buege, Vice President of Sales and Marketing at All Energy Solar. "The window is closing, but there's still time to lock in the full value if you act now. It may be years before solar becomes this affordable again." Typical installation timelines can span several months due to site design, permitting, and utility coordination. All Energy Solar encourages anyone considering solar to start their project now to maximize savings and avoid missing out on current incentives. "From your first consultation to system activation, going solar takes time—especially with permitting and utility approvals," Buege added. "Our team is experienced at navigating these local processes, but as demand surges, there will come a point where we simply can't guarantee new projects will qualify under the current incentive, especially for residential solar." For businesses switching to solar, the changes to the tax credit present a more nuanced, though still urgent, timeline. While the general elimination date for the Clean Energy Investment Tax Credit is December 31, 2027, projects that begin construction by July 4, 2026, can still qualify for the full 30% credit, provided they are placed in service within four years. Projects beginning construction after July 4, 2026, must be placed in service by December 31, 2027, to receive any credit. Furthermore, projects beginning construction after December 31, 2025, will face new "Foreign Entity of Concern" (FEOC) restrictions, requiring a certain percentage of components to be sourced from non-FEOC manufacturers to qualify for the credit. About All Energy SolarAll Energy Solar is a full-service solar energy solutions provider for residential, commercial, agricultural, and government customers seeking to make the transition to solar energy. Learn more at View original content to download multimedia: SOURCE All Energy Solar, Inc
Yahoo
19 minutes ago
- Yahoo
Should You Buy XRP (Ripple) While It's Under $5?
Key Points XRP's value has surged nearly 480% in just 12 months. Deregulation, ETFs, and general crypto enthusiasm are driving the coin's value higher. XRP is priced for perfection, and it's looking increasingly like a speculative gamble. 10 stocks we like better than XRP › Cryptocurrency XRP (CRYPTO: XRP) has gained lots of attention from investors lately, resulting in a 480% increase over the past year. Whenever any type of investment rises that quickly, it's worth evaluating to see if it's worth owning. Unlike some cryptocurrencies, XRP (sometimes called Ripple) has real-world applications through its blockchain, which can act as a bridge currency in foreign transactions, saving both time and money compared to traditional financial transactions. But XRP's rapid value increase calls into question whether the crypto is overvalued right now, and if it's being driven higher simply because of investor sentiment. While XRP isn't necessarily a meme coin, here are three reasons why it may be best not to buy it right now. 1. It's very volatile If you're interested in owning cryptocurrencies, then it's likely that you're OK with some volatility. Any type of investment will have price swings, of course, but cryptocurrencies are more prone to make big movements on little to no news. While XRP isn't unique in its volatility, I think it's significant enough to dissuade some investors from owning it. Consider that back in February, XRP's value fell about 30% in just a five-week period. XRP regained its footing temporarily, but then fell 16% in just one week following the announcement of President Donald Trump's tariffs in early April. Those are just two examples of XRP's tendency toward volatility, both occurring within weeks of each other. Of course, the coin's value has subsequently rallied again, but if you're not used to investment value shifts to this degree and they might cause you undue stress or prompt you to take action without thinking, then it's probably best to stay away. 2. It's fairly speculative It's important to point out that some of the price movements XRP has experienced are tied to concrete reasons. For example, some of XRP's price gains over the past year have come from investors getting excited about crypto exchange-traded funds (ETFs) focused on XRP and the Trump administration taking a more open approach toward cryptocurrencies. But while crypto ETFs can signal more legitimacy for digital coins and open them up to more investors, there's still a lot of speculating involved. Some analysts have estimated that XRP's price could surge to $25 because of the launch of the ETFs -- only to see the value then fall by 90%. While that's just a prediction, it's a good representation of how speculative the price of XRP can be. What's more, XRP's value jumped more than 70% in the past month after the House of Representatives passed the Genius Act and the Digital Markets Clarity Act in the House, both of which clarify regulations for crypto and stablecoins. While it's good news for the industry, a 70% surge in XRP's price is likely unwarranted. Huge value movements over a short period, whether for stocks or crypto, often signal that investors are pushing up an investment solely based on how they feel. 3. It's already richly valued XRP's massive run lately means this crypto is priced for perfection. Its price already includes optimism around crypto deregulation, the launch of XRP ETFs, real-world usage of its blockchain, and a general optimism that's fueling a surge in crypto prices. In short, XRP is already on a huge run based on a handful of tangible reasons, and any more gains from here are likely purely built on the whims of crypto investors. Unlike stocks, cryptocurrencies don't have cash flow or earnings to judge their value by, and based on XRP's 480% jump over the past year, it looks like the coin's price is now detached from the already speculative metrics used to judge crypto values. Could XRP still go higher? Of course. Many cryptocurrencies have shown that they can continue to climb even without being tied to any concrete metrics. But there's no getting around the fact that buying XRP means you're paying a premium. And with optimism for XRP sky-high, any unmet expectations from the crypto could cause a substantial sell-off. Should you invest $1,000 in XRP right now? Before you buy stock in XRP, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and XRP wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $636,628!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,063,471!* Now, it's worth noting Stock Advisor's total average return is 1,041% — a market-crushing outperformance compared to 183% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Chris Neiger has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends XRP. The Motley Fool has a disclosure policy. Should You Buy XRP (Ripple) While It's Under $5? was originally published by The Motley Fool
