Faruqi & Faruqi, LLP Securities Litigation Partners James (Josh) Wilson Urges Investors Suffering Losses Over $75,000 With Rentokil To Contact Him Directly To Discuss Their Options

If you suffer losses in excess of $75,000 in Rentokil between December 1, 2023 and September 10, 2024 and want to discuss your legal rights, call a Faruqi & Faruqi partner Direct Josh Wilson on 877-247-4292 or 212-983-9330 (Ext. 1310).

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New York, New York–(Newsfile Corp. – January 18, 2025) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Rentokil Initial (LON:) plc (“Rentokil” or the “Company”) (NYSE: RTO) and reminds investors of January 27, 2025 deadline to seek the role of lead plaintiff in a federal securities class action filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Rentokil experienced a level of disruption in the early integration pilots with Terminix; (2) Rentokil experienced significant, ongoing, self-imposed execution challenges integrating Terminix; (3) disruption and implementation challenges have jeopardized Rentokil’s integration plan for Terminix; (4) Rentokil and Terminix are still two separate businesses that have not been merged; (5) Rentokil’s failure to integrate Terminix negatively impacted the Company’s business and operations, particularly organic revenue growth in North America; and (6) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially false and misleading and/or without a reasonable basis at all relevant times.

The truth began to unfold before the opening of the markets on April 18, 2024, when Rentokil issued a press release announcing its financial results for the first quarter of 2024, which reported that organic revenue growth in North America rose to just 1.5% year-over-year-below the Company’s guidance of 2% for the first quarter and 2% to 4% for the full year, which was issued just six weeks ago. During a corresponding earnings call held later that day, Chief Executive Officer (“CEO”) Andrew M. Ransom assured investors that “our integration program is on track(,)” while Chief Financial Officer (“CFO”) Stuart M. Ingall-Tombs continued, “we are relatively confident about our current revenue guidance.” On this news, the price of Rentokil ADS fell by 9%, from the closing price of $28.25 per ADS on April 17, 2024, to the closing price of $25.61 per ADS on April 18, 2024.

The truth was revealed on September 11, 2024 when, before the markets opened, Rentokil provided an unscheduled “Trading Update,” announcing that the Company now expects only 1% organic revenue growth. in North America for the second half of 2024—down below the company’s initial guidance. In a related press release, Rentokil disclosed, “(T)his trading performance in July and August was lower than expected. There was also a slight disruption to organic growth from the branch merger.” During a related conference call with analysts held later the same day, CFO Ingall-Tombs revealed that, after nearly two years of integration efforts, “I think if what we got because we have 2 parallel businesses, which are mostly an operational front-end that is not yet . During the same conference call, CEO Ransom admitted, “This is a manifestation of the challenges of enforcement, enforcement — a need to improve our enforcement. (sic) has the right to change that answer, but I don’t think it’s the market (,) I think it’s up to us. On this news, the price of Rentokil ADS fell by 21%, from the closing price of $31.60 per ADS on September 10, 2024, to the closing price of $24.95 per ADS on September 11, 2024.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is substantially and generally among the class members managing and managing the litigation on behalf of the purported class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain a non-class member. Your ability to share in any recovery is not affected by the decision to serve as lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information about Rentokil’s conduct to contact the company, including whistleblowers, former employees, shareholders and others.

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To view the original version of this press release, please visit https://www.newsfilecorp.com/release/237485