|Company name||ADT Inc.|
|Class period||January 15, 2018 – May 21, 2018|
|Lead plaintiff deadline||July 20, 2018|
|Court||Southern District of Florida|
NEW YORK, May 22, 2018 – Bragar Eagel & Squire, P.C. announces to investors that a class action lawsuit has been filed in the U.S. District Court for the Southern District of Florida on behalf of all persons or entities who purchased or otherwise acquired ADT Inc. (NYSE: ADT) between January 15, 2018 and May 21, 2018 (the “Class Period”). Investors have until July 20, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
In January 2018, ADT conducted its initial public offering (“IPO”), issuing approximately 105 million shares of ADT common stock to the investing public priced at $14.00 per share. On March 15, 2018, ADT announced its financial and operating results for the quarter and year ended December 31, 2017. Contrary to analyst expectations, ADT reported an adjusted loss for the fourth quarter of $0.06 per share, excluding special items. Following this news, ADT’s share price fell $1.28, or 12.54%, to close at $8.93 on March 15, 2018. Since the IPO, ADT’s common stock price has fallen to below $9.00 per share, representing a decline of more than 35% from the IPO price.
The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (i) ADT’s Registration Statement made material misrepresentations and omissions by failing to disclose historical metrics integral to appraising ADT key value drivers.; (ii) ADT’s discussions of risk factors did not mention, or adequately describe the risk posed by, the then already occurring 75% increase in year-over-year losses, nor the other complete yet undisclosed materially negative 4Q and FY 2017 results and trends, nor ADT’s dependence on the Trump tax cut to meet even the extreme low end of its 2017 estimate ranges, nor the omission of historically critical metrics, nor the likely and consequent materially adverse effects on the Company’s future results, share price, and prospects; (iii) Defendants’ failure to disclose the 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 Statements many references to known risks that if occurring might or could affect the Company; and (iv) as a result, ADT’s public statements were materially false and misleading at all relevant times.
If you purchased or otherwise acquired ADT securities pursuant or traceable to the IPO, have information, 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 Brandon Walker or Melissa Fortunato by email at email@example.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.