OAKLAND, Calif.--(BUSINESS WIRE)--Resideo Technologies, Inc. shares fell dramatically after the company cut its full year guidance, announced the departure of its CFO, and revealed it has begun a comprehensive operational and financial review. Gibbs Law Group is investigating a potential Resideo Class Action Lawsuit on behalf of investors who lost money in Resideo Technologies (NYSE: REZI) stock.
To speak with an attorney about recovering your losses in Resideo, click here or call (888) 410-2925.
Resideo Technologies, a 2018 spin off from Honeywell International, focuses primarily on smart home and security products. Since its spin off last year, Resideo’s share value has decreased by more than 60%. On October 22, 2019 Resideo announced it would cut its full-year 2019 guidance and adjusted EBITDA guidance. Resideo also announced the departure of its CFO, Joseph Ragan.
In conjunction with Resideo’s preliminary results, the company also announced the beginning of a comprehensive financial and operational review. CEO Mike Nefkens stated, “We are aggressively addressing challenges through a comprehensive operational and financial review of the company, with a particular focus on the Products & Solutions segment.”
Following this news, on October 23, 2019, Resideo’s stock price plummeted nearly 40% on high trading volume, causing significant harm to investors.
What Should Resideo Investors Do?
If you invested in Resideo Technologies, visit our website or contact our securities team directly at (888) 410-2925 to discuss how you may be able to recover your losses. Our investigation focuses on whether Resideo Technologies, Inc. and certain of its officers and/or directors have violated federal securities laws.
About Gibbs Law Group
Gibbs Law Group represents individual and institutional investors throughout the country in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and our attorneys have received numerous honors for their work, including “Best Lawyers in America,” “Top Plaintiff Lawyers in California,” “Titans of the Plaintiffs Bar,” “California Lawyer Attorney of the Year,” “Top Class Action Attorneys Under 40,” “Consumer Protection MVP,” and “Top Cybersecurity/ Privacy Attorneys Under 40.”
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