IRVINE, CA / ACCESSWIRE / October 12, 2017 / Khang & Khang LLP (the "Firm") announces a securities class action lawsuit against Forterra, Inc. ("Forterra" or the "Company") (NASDAQ: FRTA). Investors, who purchased or otherwise acquired Forterra shares pursuant and/or traceable to its October 21, 2016 initial public offering ("IPO"), are encouraged to contact the Firm by October 13, 2017, the lead plaintiff motion deadline.
If you purchased Forterra shares in connection with the IPO, please contact Joon M. Khang, Esq., of Khang & Khang LLP, 4000 Barranca Parkway, Suite 250, Irvine, CA 92604, by telephone at (949) 419-3834, or by e-mail at joon@khanglaw.com.
There has been no class certification in this case yet, and until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member as well.
The Complaint alleges that the Registration Statement which Forterra used to conduct its IPO contained false and/or misleading statements, and/or failed to disclose: that organic sales in the Company's Drainage and Water segments declined significantly; 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 dropped about 75%, which harmed investors according to the lawsuit.
If you want to learn more about this lawsuit, or if you have questions concerning this notice or your rights, please contact Joon M. Khang, Esq., a prominent litigator for nearly two decades, by telephone at (949) 419-3834, or by e-mail at joon@khanglaw.com.
This press release may be considered Attorney Advertising in certain jurisdictions.
Contact:
Joon M. Khang, Esq.
Telephone: 949-419-3834
Facsimile: 949-225-4474
joon@khanglaw.com
SOURCE: Khang & Khang LLP
ReleaseID: 477693
