NEW ORLEANS, Nov. 30, 2024 /PRNewswire/ — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind 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.
What You May Do
If you purchased ADSs of Rentokil and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-rto/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by January 27, 2025.
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.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected] 1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163
SOURCE Kahn Swick & Foti, LLC
