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IRVINE, Calif., Aug. 18, 2017 -- Khang & Khang LLP (the “Firm”) announces the filing of a securities class action lawsuit against Forterra, Inc. (“Forterra” or the “Company”) (Nasdaq:FRTA). Investors who purchased or otherwise acquired shares pursuant or traceable to the October 21, 2016 initial public offering (“IPO”), are encouraged to contact the Firm in advance of the October 13, 2017 lead plaintiff motion deadline.
If you purchased Forterra shares on or about 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 [email protected].
There has been no class certification in this case yet. 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.
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: 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 declined about 75%, which caused investors harm according to the Complaint.
If you wish to learn more about this lawsuit, or if you have any questions concerning this notice or your rights, please contact Joon M. Khang, Esq., a prominent litigator for almost two decades, by telephone at (949) 419-3834, or by e-mail at [email protected].
This press release may constitute Attorney Advertising in some jurisdictions.
Contact Joon M. Khang, Esq. Telephone: 949-419-3834 Facsimile: 949-225-4474 [email protected]
