LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) files a class action on behalf of investors who purchased Forterra, Inc. (“Forterra” or the “Company”) (NASDAQ: FRTA) securities between October 18, 2016 and August 14, 2017, inclusive (the “Class Period”). Forterra investors have until October 13, 2017 to file a lead plaintiff motion. To obtain information or participate in the class action, please visit the Forterra page on our website at www.glancylaw.com/case/forterra-inc.
Investors suffering losses on their Forterra investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to shareholders@glancylaw.com.
The complaint filed in this class action alleges that throughout the Class Period, the Company made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that the Company’s initiatives were not producing organic growth; (2) that, as such, the Company was not likely to experience organic growth; (3) that the Company was experiencing increased pricing pressures, operational problems at manufacturing plants, and rising bad debt expenses; (4) that the Company had material weaknesses in internal controls over inventory accounting; (5) that, as a result of the foregoing, Defendants’ statements about Forterra’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
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If you purchased shares of Forterra during the Class Period you may move the Court no later than October 13, 2017 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at http://glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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