NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until July 20, 2018 to file lead plaintiff applications in a securities class action lawsuit against ADT, Inc. (NYSE: ADT), if they purchased the Company’s shares pursuant to its January 2018 initial public offering (the “IPO”). This action is pending in the United States District Court for the Southern District of Florida.
What You May Do
If you purchased shares of ADT 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 (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nyse-adt/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by July 20, 2018.
About the Lawsuit
ADT and certain of its executives are charged with failing to disclose material information in its Registration Statement filed pursuant to its IPO, violating federal securities laws.
On March 15, 2018, ADT disclosed disappointing financial results for 4Q2017 and FY 2017, specifically “net income of $638 million, up from negative $85 million last year, and diluted earnings per share of $0.99 versus $(0.13) in the prior year” (however, net income results included a $690 million government tax reform benefit), and that “[e]xcluding special items, diluted earnings per share were $(0.06) versus $(0.07) in the same period last year,” a result much lower than analysts’ estimates.
On this news, the price of ADT’s shares plummeted.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.