(NewMediaWire) - December 05, 2024 - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Rentokil Initial plc (“Rentokil” or the “Company”) (NYSE: RTO) on behalf of investors that purchased Rentokil American Depositary Shares (“ADS”) between December 1, 2023 and September 10, 2024 (the “Class Period”).If you are an investor in Rentokil ADSs and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.
Prior to the Class Period, on October 12, 2022 Rentokil announced the completion of its acquisition of Terminix Global Holdings, Inc. (“Terminix”), making Terminix part of Rentokil’s North America pest control business.
According to the complaint, on September 11, 2024, before the markets opened, Rentokil provided an unscheduled “Trading Update,” which announced that the Company now expects only 1% organic revenue growth in North America for the second half of 2024, well below the Company’s prior guidance.
On this news, the price of Rentokil ADSs fell $6.65 per share, over 21%, to close at $24.95 per ADS on September 11, 2024.
The complaint alleges, among other things, that the Defendants made materially false and misleading statements and failed to disclose to investors that throughout the Class Period Rentokil experienced disruption and significant, ongoing, self-inflicted execution challenges integrating Terminix, which negatively impacted the Company’s business operations, particularly the Company’s organic revenue growth in North America.
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If you have any questions about this Notice, your rights, or your interests, please contact:
CONTACT:
Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
pmayer@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
lking@kaplanfox.com
