Source: Lundin Law PC
LOS ANGELES, Oct. 06, 2017 (GLOBE NEWSWIRE) -- Lundin Law PC, a shareholder rights firm, announces a class action lawsuit against Forterra, Inc. (“Forterra” or the “Company”) (Nasdaq:FRTA) for possible violations of federal securities laws relating to its initial public offering (the “IPO”) on October 21, 2016. Investors who purchased or otherwise acquired Forterra shares pursuant and/or traceable to the IPO should contact the firm by October 13, 2017, the lead plaintiff motion deadline.
To participate in this class action lawsuit, click here.
You can also call Brian Lundin, Esq., of Lundin Law PC, at 888-713-1033, or e-mail him at firstname.lastname@example.org.
No class has been certified in the above action yet, and until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
The Complaint alleges that the Registration Statement which Forterra used to conduct its IPO contained false and/or misleading statements, and/or failed to disclose material facts, specifically: that organic sales in the Company’s Drainage and Water segments significantly dropped; that Forterra was experiencing increased pricing pressure due to competition and continued softness in its concrete and steel pipe business; that the Company was losing business in its important pipe and precast business, due in large part to operational problems at its production plants; and that Forterra had undisclosed material weaknesses in its internal controls that prevented it from accurately reporting and forecasting its financial results. Since the IPO, Forterra’s stock price fell approximately 75%, which caused investors harm according to the Complaint.
Lundin Law PC was created by Brian Lundin, Esq., a securities litigator based in Los Angeles dedicated to upholding shareholders’ rights.
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