A lawsuit was filed on behalf of investors in Forterra Inc (NASDAQ:FRTA) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 09/08/2017 -- An investor, who purchased NASDAQ:FRTA shares, filed a over alleged Securities Laws violations by Forterra Inc.
Investors who purchased shares of Forterra Inc (NASDAQ:FRTA) have certain options and for certain investors are short and strict deadlines running. Deadline: October 13, 2017. NASDAQ:FRTA investors should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
According to the complaint the plaintiff alleges on behalf of purchasers of Forterra Inc (NASDAQ:FRTA) who purchased common shares in connection with the Company's October 21, 2016 initial public offering (the "IPO"), that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that the Registration Statement used to conduct the IPO contained inaccurate statements and omitted facts necessary to make other statements made therein not misleading.
The plaintiff claims that among other things, the Registration Statement failed to disclose, at the time of the IPO, that organic sales in Forterra's Drainage and Water segments had significantly declined, that Forterra was experiencing increased pricing pressure due to competition and continued softness in its concrete and steel pipe business, that Forterra had been losing business in its important pipe and precast business due to in large part to operational problems at its production plants, and that Forterra had undisclosed material weaknesses in its internal controls that prevented it from accurately reporting and forecasting its financial results.
Those who purchased shares of Forterra Inc (NASDAQ:FRTA) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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