SAN FRANCISCO, June 26, 2018 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP reminds investors in ADT Inc. (NYSE: ADT ) of the July 20, 2018 ADT Lead Plaintiff deadline in the pending securities class action. If you purchased or otherwise acquired securities of ADT pursuant or traceable to ADT’s January 2018 initial public offering (IPO) and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/ADT
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
On January 19, 2018, ADT conducted its IPO and issued approximately 105 million shares to investors at $14.00 per share.
By March 15, 2018, the Company reported a surprise adjusted loss for the fourth quarter of 2017. MarketWatch reported that day “[t]he number included a $690 million tax benefit from the December tax revamp” and “[e]xcluding special items, however, the company had a loss of 6 cents a share, while the FactSet consensus was for EPS of 10 cents.”
This news drove the price of ADT shares down $1.28, or about 12.5%, to close at $8.93 that day, which was approximately $5.07, or about 36%, lower than ADT’s IPO price.
“We’re focused on investors’ losses, Defendants’ apparently misleading boilerplate risk disclosures, and whether Defendants have complied with certain SEC guidelines about non-GAAP financial measures,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding ADT should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email ADT@hbsslaw.com .
About Hagens Berman Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with 70+ attorneys in 11 offices across the country. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes can be found at www.hbsslaw.com . For the latest news visit our newsroom or follow us on Twitter at @classactionlaw .
Contact: Reed Kathrein, 510-725-3000
