NEW ORLEANS--(BUSINESS WIRE)--ClaimsFiler, a FREE shareholder information service, reminds 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.
ADT investors should visit us at https://www.claimsfiler.com/cases/new-york-se-adt or call to speak to our claim center toll-free at (844) 367-9658.
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.
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