NEW YORK, May 25, 2018 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been filed in the United States District Court for the Southern District of Florida on behalf of all persons or entities who purchased or otherwise acquired ADT Inc. (NYSE:ADT) (“ADT or the “Company”) securities between January 15, 2018 and May 21, 2018, inclusive (the “Class Period”).
Investors who have incurred losses in shares of ADT Inc. are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.
If you have incurred losses in the shares of ADT Inc. and would like to assist with the litigation process as a lead plaintiff, you may, no later than July 20 , 2018, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in ADT Inc.
The filed complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that:
- historical metrics integral to appraising ADT “key value drivers” and the likely and consequently materially adverse effects on ADT’s future results, share price, and prospects;
- the already occurring 75% increase in year-over-year losses;
- the other complete yet undisclosed materially negative fourth-quarter (“4Q”) and full-year (“FY”) 2017 results and trends;
- ADT’s dependence on the recently enacted Federal tax cut to meet even the extreme low end of its 2017 estimate ranges; and that
- as a result, ADT’s public statements were materially false and misleading at all relevant times.
On January 18, 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 $8.00 per share, representing a decline of more than 42% from the IPO price.
Wolf Haldenstein Adler Freeman & Herz LLP has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.
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Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774
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