National securities law firm Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors that purchased or otherwise acquired the securities of ADT Inc. (“ADT” or the “Company”) (NYSE: ADT) between January 15, 2018 and May 21, 2018, inclusive (the “Class Period”). ADT investors have until July 20, 2018 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to participate.
Investors that suffered losses on their ADT investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to shareholders@glancylaw.com.
On March 15, 2018, ADT announced poor fourth-quarter 2017 financial results, stating, in relevant part, that “diluted earnings per share was $(0.06) versus $(0.07) in the same period last year” when excluding special items.
On this news, ADT’s share price fell $1.28, or more than 12%, to close at $8.93 per share, on March 15, 2018, thereby injuring investors.
The complaint filed in this class action alleges that, Defendants made false and/or misleading statements and/or failed to disclose that: (1) ADT's Registration Statement made material misrepresentations and omissions by failing to disclose historical metrics integral to appraising ADT "key value drivers"; (2) ADT's discussion of risk factors did not mention or adequately describe the risk posed by the already occurring 75% increase in year-over-year losses, the other complete yet undisclosed materially negative 4Q and FY 2017 results and trends, ADT's dependence on the Trump tax cut to meet even the extreme low end of its 2017 estimate ranges, the omission of historically critical metrics, and the likely and consequently materially adverse effects on ADT's future results, share price, and prospects; (3) defendants' failure to disclose then-complete materially negative 4Q and FY 2017 results and trends, and ADT's dependence on the Trump tax cut to meet even the extreme low end of its 2017 estimate ranges, much less the likely material effects they would have on ADT's share price, rendered false and misleading the Registration Statement's many references to known risks that "if" occurring "might" or "could" affect ADT; and (4) as a result, ADT's public statements were materially false and misleading at all relevant times.
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If you purchased shares of ADT during the Class Period you may move the Court no later than July 20, 2018 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180625006168/en/
Contacts:
Lesley Portnoy,
310-201-9150 or 888-773-9224
shareholders@glancylaw.com
www.glancylaw.com
