NEW ORLEANS, Dec. 11, 2024 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until January 27, 2025 to file lead plaintiff applications in a securities class action lawsuit against Rentokil Initial plc (the “Company”) (NYSE: RTO), if they purchased the Company’s American Depositary Shares (“ADSs”) between December 1, 2023 and September 10, 2024, inclusive (the “Class Period”). This action is pending in the United States District Court for the Western District of Tennessee.
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Rentokil investors should visit us at https://claimsfiler.com/cases/nyse-rto/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Rentokil and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On September 11, 2024, pre-market, the Company provided an unscheduled “Trading Update,” announcing that it now expected only 1% organic revenue growth in North America for the second half of 2024—well below the Company’s prior guidance, also disclosing that “While we saw some positive momentum in North America sales activity at the end of the second quarter, the trading performance in July and August was lower than anticipated. There has also been some modest disruption to organic growth from branch integration.”
On this news, the price of Rentokil ADSs fell by over 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.
The case is Laborers Local #235 Pension Fund v. Rentokil Initial plc, et al., No. 24-cv-2932.
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