NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky, LLP announces it has commenced an investigation of Forterra, Inc. (“Forterra”) (NASDAQ:FRTA) concerning possible violations of federal securities laws.
On May 15, 2017, Forterra reported net sales of $338.3 million for the first quarter of 2017, compared to $187 million in the prior year quarter. This sales growth was "attributable to the impact of acquisitions that increased net sales by $163 million." In addition, Forterra reported a consolidated net loss of $22.5 million, or $0.35 loss per share. Forterra's Chief Executive Officer commented that the company's "earnings results for the quarter were impacted by a number of factors that unfortunately will persist through the second quarter of 2017." Following this news, shares of Forterra fell more than 24% on May 15, 2017. To obtain additional information, go to:
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