IMPORTANT INVESTOR ALERT: JFJN Law Announces Filing of a Class Action against Forterra, Inc.
September 26 2017 - 10:50AM
Business Wire
JFJN Law (the “firm) announces the filing of a class action
lawsuit against Forterra, Inc., (“FRTA” or the “Company”)
(Nasdaq:FRTA). Investors who purchased or otherwise acquired shares
between October 20, 2016 and the present, inclusive (the
“Class Period”) are encouraged to contact the Firm in advance of
the October 13, 2017 lead plaintiff motion deadline.
If you purchased shares in FRTA during the Class Period, please
contact Justin Frankel, Esq. or Jason Newfield, Esq., of JFJN Law,
1-888-459-0507 or click here before October 13, 2017.
THERE HAS NOT BEEN A CLASS CERTIFICATION OF THIS CASE YET. UNTIL
CERTIFICATION OCCURS, YOU ARE NOT REPRESENTED BY AN ATTORNEY. YOU
MAY CHOOSE TO TAKE NO ACTION AND REMAIN A PASSIVE CLASS MEMBER.
According to the Class Action Complaint, FRTA made false and
misleading statements in their Registration Statement. As a result,
Forterra priced the October 21, 2016 IPO at $18.00 per share and
issued and sold over 18 million shares.
The Class Action Complaint alleges, among other things, that
Forterra’s ability to drive organic growth was misleading. As
detailed in the Complaint, on May 15, 2017, the Company announced
that, contrary to prior representations, it had no organic net
sales growth for the first quarter of 2017, and its net sales
growth had instead been driven exclusively by acquisitions.
Following this announcement, Forterra stock dropped $4.79 per
share, or approximately 24%, to close at $14.93 per share on May
15, 2017. Thereafter, on August 10, 2017, the Company reported that
net sales growth for the second quarter of 2017 had once again been
driven solely by acquisitions. On this news, the price of
Forterra’s stock declined $4.76 per share, or approximately 57%, to
close at $3.51 per share on August 10, 2017.
This press release may be considered Attorney Advertising in
some jurisdictions.
If you suffered a loss in Forterra (FRTA). you have until
October 13, 2017 to request that the Court appoint you as a
lead plaintiff. Your ability to share in any recovery does not
require you serve as a lead plaintiff.
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version on businesswire.com: http://www.businesswire.com/news/home/20170926006248/en/
JFJN LawJustin C. Frankel, Esq. or Jason Newfield, Esq.Toll-Free
Telephone: 1-888-459-0507www.jfjnclassaction.com
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