The Law Offices of Frank R. Cruz Announces Investigation of Rollins, Inc. (ROL) on Behalf of Investors
The Law Offices of Frank R. Cruz Announces Investigation of Rollins, Inc. (ROL) on Behalf of Investors
LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Rollins, Inc. (“Rollins” or the “Company”) (NYSE: ROL) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On October 28, 2020, Rollins disclosed that the SEC “is conducting an investigation, which the Company believes is primarily focused on how it established accruals and reserves at period-ends and the impact of those accruals and reserves on reported earnings . . . beginning January 1, 2015.”
On this news, Rollins stock declined $1.42, or 3.5%, to close at $38.89 per share on October 29, 2020.
Then, on February 26, 2021, Rollins stated that at internal investigation into the matters related to the SEC investigation found “a significant deficiency in the Company’s internal controls relating to the documentation and review of accounting entries for certain reserves and accruals.”
Then, on October 29, 2021, Rollins stated that it “has initiated discussions with the SEC staff regarding a potential resolution of the investigation” and “recorded an accrual related to this matter in the third quarter of 2021.”
On this news, Rollins stock fell $1.02, or 3%, to close at $34.03 per share on November 1, 2021, thereby injuring investors.
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If you purchased Rollins securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.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.
Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com
