SAN DIEGO, Nov. 27, 2024 /PRNewswire/ --
Robbins LLP informs investors that a class action was filed on behalf of persons and entities that purchased Rentokil Initial PLC (NYSE: RTO) American Depository Shares ("ADSs") between December 1, 2023 and September 10, 2024. Rentokil provides pest control, hygiene, and wellness services worldwide.
For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.
The Allegations:
Robbins LLP is Investigating Allegations that Rentokil Initial PLC (RTO) Misled Investors Regarding its Integration of Terminix
According to the complaint, during the class period, defendants failed to disclose that:
- Rentokil experienced levels of disruption in the early pilots of its Terminix integration;
- Rentokil experienced significant, ongoing, self-inflicted execution challenges integrating Terminix;
- The disruption and execution challenges imperiled Rentokil's integration plan for Terminix;
- Rentokil and Terminix were still two separate businesses that were not yet integrated; and
- Rentokil's failure to integrate Terminix negatively impacted the Company's business and operations, particularly organic revenue growth in North America.
Plaintiff alleges that news of the failed integration came to light on September 11, 2024, when Rentokil provided an unscheduled "Trading Update," announcing that the Company now expected only 1% organic revenue growth in North America for the second half of 2024—well below the Company's prior guidance. The Company further revealed this was "a manifestation of execution challenges."
On this news, the price of Rentokil ADSs fell $6.65 per ADS, or more than 21%, from a closing price of $31.60 per ADS on September 10, 2024, to a closing price of $24.95 per ADS on September 11, 2024.
What Now:
You may be eligible to participate in the class action against Rentokil Initial PLC. Shareholders who want to serve as lead plaintiff for the class must submit their application to the court by January 27, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Robbins LLP:
Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders.
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SOURCE Robbins LLP
