Investors Alert: Deadline Approaching in Class Action Lawsuit Against Rentokil Initial plc

LOS ANGELES, Dec. 30, 2024 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP ("GPM") has issued a reminder to investors regarding the important deadline of January 27, 2025. This date marks the deadline for filing a lead plaintiff motion in a class action lawsuit concerning Rentokil Initial plc ("Rentokil" or the "Company") RTO American Depositary Shares ("ADSs"). The timeline for this lawsuit notes that it pertains to investors who purchased or otherwise acquired Rentokil ADSs during the period from December 1, 2023 to September 10, 2024, collectively referred to as the "Class Period."

If you suffered losses on your investments in Rentokil or are interested in understanding your options for pursuing claims aimed at recovering your losses under federal securities laws, you can provide your contact information at www.glancylaw.com/cases/Rentokil-Initial-plc/. Additionally, you may reach out to Charles H. Linehan at GPM by calling 310-201-9150, toll-free at 888-773-9224, or sending an email to [email protected] to gather further information about your rights.

Details on Rentokil's Financial Performance

On April 18, 2024, Rentokil released its first-quarter financial results for 2024. The company reported that its organic revenue growth in North America was just 1.5% year-over-year, which was less than the 2% growth that had been previously predicted for the first quarter. This disappointing news resulted in a significant decrease in Rentokil’s stock price, which fell by $2.64, or 9.3%, closing at $25.61 per ADS.

Later, on September 11, 2024, Rentokil issued an unexpected "Trading Update", revealing that it now anticipated only 1% organic revenue growth for North America in the second half of 2024. The update indicated that the company experienced performance below expectations during July and August. Furthermore, it stated that "modest disruption" due to branch integration was affecting organic growth, which they attributed to execution challenges.

Following this news release, Rentokil's stock price took another hit, dropping $6.65 or 21%, and closing at $24.95 per ADS on the same day, leading to further distress for investors.

Allegations in the Class Action Lawsuit

The filed complaint in this class action lawsuit alleges that throughout the Class Period, Defendants provided materially false and/or misleading statements and failed to disclose significant adverse facts about the Company's operations and outlook. Key points highlighted in the allegations include: (1) disruption during the early phases of the Terminix integration; (2) persistent execution challenges faced by Rentokil during the integration process; (3) potential risks posed by the integration plan due to these challenges; (4) the ongoing separation of Rentokil and Terminix as distinct entities; (5) negative impacts on business and operations attributable to integration failures, particularly affecting organic revenue growth in North America; and (6) the misleading nature of Defendants' positive public statements regarding the Company's prospects.

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If you acquired Rentokil ADSs during the specified Class Period, you have the opportunity to move the Court by no later than January 27, 2025 to request your appointment as a lead plaintiff in this class action lawsuit. Members of the class action are not required to take action immediately; you may choose to engage legal counsel or remain an absent class member. To find out more regarding this lawsuit or if you have query about your rights or interests connected to the ongoing class action, please reach out to Charles Linehan, Esquire of GPM at 1925 Century Park East, Suite 2100, Los Angeles, California 90067, via phone at 310-201-9150, toll-free at 888-773-9224, or by emailing [email protected]. When contacting via email, please ensure to include your mailing address, telephone number, and the quantity of shares purchased.

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