NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C. reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of all persons or entities who purchased or otherwise acquired Forterra, Inc. (NASDAQ: FRTA) securities between October 16, 2016 and August 14, 2017 (the “Class Period”). Investors have until October 13, 2017 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The Complaint alleges that the Company and its executives made false and/or misleading statements and/or failed to disclose that: (1) organic sales in the Company’s Drainage and Water segments had declined significantly; (2) the Company faced increased pricing pressure in its Houston, Texas region and continued softness in its concrete and steel pipe business; (3) the Company faced significant operational problems at its production plants; (4) the Company had understated its expenses and overstated its profits at the time of the IPO; and (5) the Company had various other material weaknesses in its internal controls.
Since the IPO, Forterra shares have fallen $13.06, or 72.5%, to close at $4.94 per share on October 4, 2017.
If you purchased or otherwise acquired Forterra securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information, 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 Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the Forterra lawsuit, please go to www.bespc.com/frta. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.