NEW YORK - 
(NewMediaWire) - December 09, 2024 - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Rentokil Initial plc (“Rentokil” or the “Company”) (NYSE: RTO) on behalf of investors that purchased Rentokil American Depositary Shares (“ADS”) between December 1, 2023 and September 10, 2024 (the “Class Period”).
DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than January 27, 2025 to serve as a lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process.
Prior to the Class Period, on October 12, 2022 Rentokil announced the completion of its acquisition of Terminix Global Holdings, Inc. (“Terminix”), making Terminix part of Rentokil’s North America pest control business.
According to the complaint, on September 11, 2024, before the markets opened, Rentokil provided an unscheduled “Trading Update,” which announced that the Company now expects only 1% organic revenue growth in North America for the second half of 2024, well below the Company’s prior guidance.
On this news, the price of Rentokil ADSs fell $6.65 per share, over 21%, to close at $24.95 per ADS on September 11, 2024.
The complaint alleges, among other things, that the Defendants made materially false and misleading statements and failed to disclose to investors that throughout the Class Period Rentokil experienced disruption and significant, ongoing, self-inflicted execution challenges integrating Terminix, which negatively impacted the Company’s business operations, particularly the Company’s organic revenue growth in North America.
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CONTACT:
Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
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(646) 315-9003
pmayer@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
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Oakland, California 94612
(415) 772-4704
lking@kaplanfox.com
