LOS ANGELES, Aug. 17, 2017 /PRNewswire/ -- Lundin Law PC, a shareholder rights firm, announces the filing of a class action lawsuit against Forterra, Inc. ("Forterra" or the "Company") (Nasdaq: FRTA) concerning possible violations of federal securities laws in connection with its initial public offering (the "IPO") on October 21, 2016. Investors who purchased or otherwise acquired shares in connection with the IPO should contact the firm prior to the October 13, 2017 lead plaintiff motion deadline.
To participate in this class action lawsuit, click here.
You can also call Brian Lundin, Esq., of Lundin Law PC, at 888-713-1033, or e-mail him at firstname.lastname@example.org.
No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
According to the Complaint, the Registration Statement which Forterra used to conduct its IPO contained false and/or misleading statements, and/or failed to disclose material facts, specifically: that organic sales in the Company's Drainage and Water segments significantly declined; that Forterra was experiencing increased pricing pressure due to competition and continued softness in its concrete and steel pipe business; that the Company had been losing business in its important pipe and precast business, due 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. Since the IPO, Forterra's stock price has fallen about 75%, which caused investors harm according to the Complaint.
Lundin Law PC was founded by Brian Lundin, Esq., a securities litigator based in Los Angeles dedicated to upholding shareholders' rights.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View original content:http://www.prnewswire.com/news-releases/important-shareholder-alert-lundin-law-pc-announces-a-securities-class-action-lawsuit-against-forterra-inc-and-encourages-investors-with-losses-to-contact-the-firm-300506127.html
SOURCE Lundin Law PC