Haeggquist & Eck, LLP Announces an Investigation of Potential Corporate Misconduct at Forterra, Inc. & the Filing of a Relate...
August 18 2017 - 9:01AM
Business Wire
Haeggquist & Eck, LLP a shareholder rights litigation firm,
announces that a class action lawsuit has been filed in the Eastern
District of New York against Forterra, Inc. (“Forterra” or the
“Company”) (NASDAQ: FRTA) for violations of the Securities Act of
1933 on behalf of investors who purchased the Company’s shares in
connection with its October 21, 2016 initial public offering (the
“IPO”). The IPO involved the sale of 18.42 million shares of
Forterra common stock at $18 per share, raising more than $331
million in gross proceeds. After the IPO, as information about the
Company’s business and finances has surfaced, Forterra’s common
stock price has fallen and has traded at approximately 75% of its
IPO price.
The class action alleges, among other things, that the
Registration Statement filed on behalf of Forterra to undertake the
IPO contained false and/or misleading statements, and/or failed to
disclose material facts, including information concerning sales
declines and pricing pressures in certain of the Company’s business
lines and/or segments, and that Forterra had an undisclosed
material weaknesses in its internal controls that prevented it from
accurately reporting and forecasting its financial results. An
October 13, 2017 deadline has been announced for the filing of lead
plaintiff motions in the currently pending class action.
Forterra Shareholders Have Legal Options
Concerned Forterra shareholders, regardless of their date of
purchase of Forterra, who would like more information about their
rights and potential remedies, including remedies to the Company
from the alleged misconduct of its executives and/or directors, may
contact attorneys Amber Eck or Kathleen Herkenhoff at 619-342-8000,
ambere@haelaw.com or kathleenh@haelaw.com.
Haeggquist & Eck, LLP is a nationally recognized leader in
shareholder rights law. The firm represents individual investors in
shareholder derivative lawsuits, and members of the firm have
helped shareholders recover more than $1 billion of value for
themselves and the companies in which they have invested.
This release constitutes attorney advertising. Past results do
not guarantee a similar outcome.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170818005036/en/
Haeggquist & Eck, LLP619-342-8000Amber Eck,
ambere@haelaw.comKathleen Herkenhoff, kathleenh@haelaw.com
Forterra (NASDAQ:FRTA)
Historical Stock Chart
From Mar 2024 to Apr 2024
Forterra (NASDAQ:FRTA)
Historical Stock Chart
From Apr 2023 to Apr 2024