NEW YORK, NY / ACCESSWIRE / October 21, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Rentokil Initial plc ("Rentokil" or the "Company") (NYSE:RTO). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Rentokil and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On September 11, 2024, Rentokil disclosed that it expected full-year adjusted pretax profit of approximately £700 million, compared to £766 million in the previous year, citing weaker than expected sales in North America, the Company's largest market. Rentokil also stated that it would cut an undisclosed number of jobs in its U.S. workforce to address cost overruns.
On this news, Rentokil's American depositary receipt ("ADR") price fell $6.64 per ADR, or 21.04%, to close at $24.95 per ADR on September 11, 2024.
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SOURCE: Pomerantz LLP