Law Offices of Howard G. Smith announces an investigation on behalf of Rentokil Initial plc (“Rentokil” or the “Company”) (NYSE: RTO) investors concerning the Company’s possible violations of federal securities laws.
On April 18, 2024, Rentokil released its first quarter 2024 financial results, disclosing that organic revenue growth in North America increased by only 1.5% year-over-year, below prior guidance of 2% for the first quarter. On this news, Rentokil’s stock price fell $2.64, or 9.3%, to close at $25.61 per share on April 18, 2024, thereby injuring investors.
Then, on September 11, 2024, Rentokil issued an unscheduled “Trading Update,” disclosing that it now expected only 1% North America organic revenue growth for the second half of 2024, explaining that “the trading performance in July and August was lower than anticipated,” and that “there has also been some modest disruption to organic growth from branch integration.” The Company further stated that the issues were “a manifestation of execution challenges.”
On this news, Rentokil’s stock price fell $6.65, or 21%, to close at $24.95 per share on September 11, 2024, thereby injuring investors further.
If you purchased Rentokil 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 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 or by email to [email protected], or visit our website at www.howardsmithlaw.com.
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