LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) reminds investors of the October 13, 2017 deadline in the class action lawsuit 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. To obtain information or participate in the class action, please visit the Forterra page on our website at www.glancylaw.com/case/forterra-inc.
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.
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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. 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 firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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