Company Website:
http://www.scott-scott.com
NEW YORK -- (Business Wire)
Scott+Scott,
Attorneys at Law, LLP (“Scott+Scott”), a national shareholder and
consumer rights litigation firm, reminds investors that October 13,
2017, is the deadline for interested investors to move for lead
plaintiff status in the federal securities class action pending against
Forterra, Inc. (“Forterra” or the “Company”) (NASDAQ:FRTA), certain of
its officers and directors, and the underwriters of its Initial Public
Offering (“IPO”). If you purchased Forterra shares in or traceable to
the Company’s October 21, 2016 IPO, you are encouraged to contact a
Scott+Scott attorney at (844) 818-6982 for more information.
Forterra is a manufacturer of pipe and precast products. The Company
offers products for a range of water-related infrastructure
applications, including water transmission, distribution and drainage.
The lawsuit alleges that Forterra made materially false 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 organic sales in Forterra’s
Drainage and Water segments had significantly declined; (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) and as a result of the foregoing, Defendants’ statements
were false and misleading.
Forterra common stock is currently trading below $4.00 per share, a
decline of more than 75% from the IPO price of $18.00.
What You Can Do
If you purchased Forterra stock in or traceable to the Company’s IPO and
you wish to discuss this lawsuit, or have questions about this notice or
your legal rights, please contact attorney Joe Pettigrew at (844)
818-6982, or at jpettigrew@scott-scott.com.
The deadline to move for Lead Plaintiff status is October 13, 2017.
About Scott+Scott, Attorneys at Law, LLP
Scott+Scott has significant experience in prosecuting major securities,
antitrust, and employee retirement plan actions throughout the United
States. The firm represents pension funds, foundations, individuals, and
other entities worldwide with offices in New York, London, Connecticut,
California, and Ohio.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170919006275/en/
Contacts:
Scott+Scott,
Attorneys at Law, LLP
Joe Pettigrew, 844-818-6982
jpettigrew@scott-scott.com
Source: Scott+Scott, Attorneys at Law, LLP
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