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NEW YORK, Aug. 29, 2017 -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired common stock of Forterra, Inc. (“Forterra”) (NASDAQ:FRTA) between October 18, 2016 and August 14, 2017 and/or pursuant and/or traceable to the Company’s October 21, 2016 Initial Public Offering.
You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Eastern District of New York. If you purchased or otherwise acquired Forterra securities pursuant to the offering your rights may be affected by this action. To get more information go to:
http://www.zlk.com/pslra-sbm/forterra-inc?wire=3
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that the Registration Statement used to conduct the IPO contained inaccurate statements and omitted material information including that: (1) at the time of the IPO, organic sales in Forterra’s Drainage and Water segments had significantly declined; (2) Forterra was experiencing increased pricing pressure due to competition and continued softness in its concrete and steel pipe business; (3) Forterra had been losing business in its important pipe and precast business due in large part to operational problems at its production plants; and (4) Forterra had undisclosed material weaknesses in its internal controls that prevented it from accurately reporting and forecasting its financial results.
If you suffered a loss in Forterra and would like to obtain additional information, contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com/pslra-sbm/forterra-inc?wire=3.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation involving financial fraud, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com
