BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that 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.
Investors suffering losses on their Forterra investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
The Complaint filed in this class action 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 (1) that organic sales in the Company's Drainage and Water segments significantly dropped, (2) Forterra was experiencing increased pricing pressure due to competition and continued softness in its concrete and steel pipe business, (3) the Company was losing business in its important pipe and precast business, due in large part to operational problems at its production plants (4) 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 about 75%, which caused investors harm according to the Complaint.
If you purchased shares of Forterra, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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