NEW YORK, June 11, 2018 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of ADT Inc. (NYSE: ADT ) pursuant and/or traceable to the registration statement and prospectus (the “Registration Statement”) issued in connection with ADT’s January 2018 initial public offering (“IPO”). The lawsuit seeks to recover damages for ADT investors under the federal securities laws.
To join the ADT class action, go to http://www.rosenlegal.com/cases-1346.html or call Phillip Kim, Esq. or Zachary Halper, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or zhalper@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, 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. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 20, 2018. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-1346.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim or Zachary Halper of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or zhalper@rosenlegal.com .
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013.
Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. Zachary Halper, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 34 th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 lrosen@rosenlegal.com pkim@rosenlegal.com zhalper@rosenlegal.com www.rosenlegal.com
