INVESTOR ALERT: Law Offices of Howard G. Announces the Filing of a Securities Class Action on Behalf of ADT Inc. Investors
BENSALEM, Pa.--(BUSINESS WIRE)--Jul 11, 2018--Law Offices of Howard G. Smith 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.
Investors suffering losses on their ADT investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to firstname.lastname@example.org.
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.
If you purchased shares of ADT, 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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/20180711005796/en/
CONTACT: Law Offices of Howard G. Smith
Howard G. Smith, Esquire
KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Law Offices of Howard G. Smith
Copyright Business Wire 2018.
PUB: 07/11/2018 03:03 PM/DISC: 07/11/2018 03:03 PM