Forterra, Inc. The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Eastern District of New York on behalf of investors who purchased Forterra, Inc. (“Forterra”) (NASDAQ: FRTA) securities between October 18, 2016 and August 14, 2017 and/or pursuant and/or traceable to the Company’s October 21, 2016 Initial Public Offering.
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.
“Forterra, Inc.”
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