Lawsuit Overview - Saxena White P A has filed a securities fraud class action lawsuit against Rentokil Initial plc and certain executive officers under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and SEC Rule 10b-5 [1] - The lawsuit is on behalf of all persons and entities that purchased Rentokil American Depositary Shares (ADSs) between December 1 2023 and September 10 2024 [1] Company Background - Rentokil provides pest control hygiene and wellness services worldwide with three main business lines: Pest Control Hygiene & Wellbeing and France Workwear [2] - Rentokil is the largest global pest control services provider with North America Pest Control accounting for more than half of the Company's annual revenue [2] - Rentokil completed the acquisition of Terminix Global Holdings Inc in a transaction valued at $6 7 billion including $1 34 billion in cash and over 129 million new Rentokil ADSs [2] Allegations - Defendants made materially false and misleading statements and failed to disclose material adverse facts about the Company's business operations and prospects during the Class Period [3] - Rentokil experienced significant ongoing self-inflicted execution challenges integrating Terminix which imperiled the integration plan [3] - Rentokil and Terminix were still two separate businesses that were not yet integrated negatively impacting the Company's business and operations particularly organic revenue growth in North America [3] Financial Disclosures - Rentokil reported organic revenue growth in North America increased by only 1 5% year-over-year for the first quarter of 2024 below the Company's guidance of 2% [4] - Rentokil now expects only 1% organic revenue growth in North America for the second half of 2024 well below the Company's prior guidance [5] - The trading performance in July and August was lower than anticipated with modest disruption to organic growth from branch integration [5] Market Reaction - The price of Rentokil ADSs fell over 9% from a closing price of $28 25 per ADS on April 17 2024 to a closing price of $25 61 per ADS on April 18 2024 [4] - The price of Rentokil ADSs fell over 21% from a closing price of $31 60 per ADS on September 10 2024 to a closing price of $24 95 per ADS on September 11 2024 [5]

SAN DIEGO, Nov. 26, 2024 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP announces that the Rentokil class action lawsuit, captioned Laborers Local #235 Pension Fund v. Rentokil Initial plc, No. 24-cv-02932 (W.D. Tenn.), charges Rentokil Initial plc (NYSE: RTO) and certain of Rentokil’s top executives with violations of the Securities Exchange Act of 1934. If you suffered substantial losses and wish to serve as lead plaintiff of the Rentokil class action lawsuit, please provide your information here: h ...

The stock price of Rentokil Initial plc (NYSE: RTO ) has essentially gone sideways for the last five years. In that time, the company has been profitable but there was no real story around the stock, no catalyst. Analyst's Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in RTO over the next 72 hours. I wrote this article ...

Key Takeaways An executive of Nelson Peltz's Trian Fund Management was named to the Rentokil Initial board. Brian Baldwin, Head of Research at Trian, will join the board as a non-executive member on Oct. 1. Trian took what it called "a significant position" in Rentokil in June, which the company said totaled 2.26% of shares outstanding. American depositary receipts (ADRs) of Rentokil Initial (RTO) gained Wednesday when the pest-control company announced that an executive from activist investor Nelson Peltz' ...

Pest control maker Rentokil Initial said Wednesday that Trian partner Brian Baldwin would join the Terminix owner's board effective next week. The company said Baldwin, who has worked at Nelson Peltz's firm since 2007, will also join the nominating and compensation committees. The accession comes three months after Trian first disclosed a roughly $400 million position in Rentokil, and two weeks after the company issued a profit warning. Rentokil has struggled since it completed its nearly $7 billion acquisi ...

Amazon corporate employees must return to an office five days a week starting January. Amazon updated its policy to immediately end a remote work benefit for most employees. The benefit was popular. Staff used it to stay close to family while working during the holidays. Insider Today NSIDER TODA Sign up to get the inside scoop on today's biggest stories in markets, tech, and business — delivered daily. Read preview Bull Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your ...

Core Insights - Rentokil Initial plc expects full-year adjusted pretax profit to be approximately £700 million, down from £766 million the previous year, due to weaker sales in North America [2] - The company plans to cut an undisclosed number of jobs in its U.S. workforce to address cost overruns [2] - Following this announcement, Rentokil's American depositary receipt (ADR) price fell by $6.64, or 21.04%, closing at $24.95 on September 11, 2024 [2] Investigation Details - Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Rentokil securities [1] - Investors are encouraged to provide information related to the investigation [3] Legal Representation - The firm operates on a contingency fee basis, meaning they will only seek reimbursement for expenses and fees if successful [4] - Bronstein, Gewirtz & Grossman, LLC is recognized for representing investors in securities fraud class actions and has recovered significant amounts for investors [5]

Core Insights - Rentokil Initial shares fell significantly after the company announced a profit hit of $104.5 million for the year due to weak performance in North America and currency fluctuations [1] Group 1: Financial Impact - The company expects a reduction in full-year earnings by 80 million pounds ($104.5 million) primarily due to slow sales in North America and negative currency impacts [1] - Rentokil anticipates a loss of 20 million pounds ($26.1 million) in adjusted operating profit from its North American operations due to slower revenue growth [1] - An additional 50 million pounds ($65.2 million) hit to adjusted operating profit is attributed to higher-than-expected expenses on materials and consumables [1] Group 2: Operational Challenges - The company ramped up operations to meet peak season demand in North America but faced slowing demand, leading to over-resourcing in sales and service [1] - Despite some positive sales momentum in the second quarter, the trading performance in July and August was lower than anticipated [1] Group 3: Currency Effects - The appreciation of the pound against the U.S. dollar is expected to create an additional headwind of 10 million pounds ($13 million) for the company if current rates persist [1] Group 4: Market Reaction - Following the profit warning, Rentokil Initial shares dropped 21% to $24.94 in intraday trading, marking a nearly 13% decline in value since the beginning of the year [1]

U.S. stocks traded mostly lower midway through trading, with the S&P 500 falling around 0.5% on Wednesday. The Dow traded down 0.94% to 40,352.38 while the NASDAQ rose 0.17% to 17,054.94. The S&P 500 also fell, dropping, 0.52% to 5,466.77. Check This Out: Wall Street's Most Accurate Analysts Give Their Take On 3 Materials Stocks Delivering HighDividend Yields Leading and Lagging Sectors Information technology shares fell by just 0.3% on Wednesday. In trading on Wednesday, financials shares dipped by 2.4%. T ...

Core Viewpoint - Digicann Ventures Ltd. has entered into a binding letter of intent with 3Win Corp. for a reverse take-over transaction, which will result in 3Win becoming a wholly owned subsidiary of Digicann, subject to regulatory approvals and shareholder consent [1][6]. Group 1: Proposed Transaction Details - The transaction will be structured as a three-cornered amalgamation, share exchange, or similar structure, leading to the combination of corporate existences of Digicann and 3Win [2]. - Digicann currently has 22,055,294 common shares outstanding, with a deemed value of $0.05 per share for holders of Digicann Shares upon completion of the transaction [3]. - The resulting holders of 3Win Shares will hold approximately 97.3% of the common shares of the Resulting Issuer, subject to adjustments based on additional investments [3]. Group 2: Securities and Board Composition - All securities convertible into 3Win Shares will be converted into similar securities of the Resulting Issuer based on the established Exchange Ratio [4]. - Following the transaction, 3Win Corp. is expected to change its name to "Serewin Inc." and the composition of the Resulting Issuer's board will be negotiated between the parties [5]. Group 3: Conditions and Related Party Transactions - Completion of the Proposed Transaction is contingent upon entering into a Definitive Agreement, maintaining a minimum cash amount at closing, and obtaining necessary approvals [6]. - The transaction is classified as a related-party transaction due to the overlapping roles of Nick Kuzyk, who is involved with both companies, which may necessitate a fairness opinion [9].