I am not a lawyer, but this caught my eye as if Company board's are going to be sued if the shares go down what is the point of listing.
Most of us know that investing in shares is a risk business, that is why we hope to get a better return than investing in Treasury stocks or bank deposits
Early days for this suit, which would seem from a UK investors point of view to be without merit. If the lawyers were to win what would be the consequences. No M&A activity, trading updates every week!
But as we know the US legal system is bizarre and I see that RTO share price has hardly crashed since the proposed actions started in November. Sharp fall after the profit warning prior to this in September..
Comments please.
LOS ANGELES, Dec. 30, 2024 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming January 27, 2025 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Rentokil Initial plc (“Rentokil” or the “Company”) (NYSE: RTO) American Depositary Shares (“ADSs”) between December 1, 2023 and September 10, 2024, inclusive (the “Class Period”).
If you suffered a loss on your Rentokil investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/Rentokil-Initial-plc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.
On April 18, 2024, Rentokil released its first quarter 2024 financial results, disclosing that organic revenue growth in North America increased by only 1.5% year-over-year, below prior guidance of 2% for the first quarter. On this news, Rentokil’s stock price fell $2.64, or 9.3%, to close at $25.61 per ADS on April 18, 2024, thereby injuring investors.
Then, on September 11, 2024, Rentokil issued an unscheduled “Trading Update,” disclosing that it now expected only 1% North America organic revenue growth for the second half of 2024, explaining that “the trading performance in July and August was lower than anticipated,” and that “there has also been some modest disruption to organic growth from branch integration.” The Company further stated that the issues were “a manifestation of execution challenges.”
On this news, Rentokil’s…
