NEW YORK, Aug. 18, 2017 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Forterra, Inc. ("Forterra" or the "Company") (NASDAQ: FRTA). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Forterra and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On or about October 21, 2016, Forterra completed its initial public offering ("IPO"), selling 18.42 million shares of common stock to the public at $18.00 per share, raising $331.56 million in gross proceeds. Forterra's Registration Statement for the IPO positively described, among other things, the state of Forterra management's capabilities and proficiency, the Company's "low-cost operations, high level of customer service and product innovation capabilities", an "expansive distribution network [that] allow[ed] it to achieve lead times among the shortest in the industry", and an "extensive product offering [that] create[d] a compelling value proposition for [its] customers", and advised investors that Forterra "expect[s] to continue growing [its] margins through ongoing operational, commercial and cultural initiatives."
Since the IPO, Forterra's share price has declined to below $5.00 per share, a drop of approximately 75% from the IPO price.
The Pomerantz Firm, with offices in New York, Paris, Chicago, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
SOURCE Pomerantz LLP