Glancy Prongay & Murray LLP Issues Reminder on Class Action Lawsuit Against Rentokil Initial plc

LOS ANGELES, Dec. 30, 2024 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP ("GPM") has issued a reminder to investors that the deadline to file a lead plaintiff motion in the class action lawsuit regarding Rentokil Initial plc ("Rentokil" or the "Company") is approaching. Investors are encouraged to act before the January 27, 2025 deadline.

This class action lawsuit is on behalf of individuals who purchased or acquired Rentokil Initial plc's American Depositary Shares ("ADSs") during the period from December 1, 2023, to September 10, 2024 (the "Class Period").

If you suffered a financial loss from investing in Rentokil or are interested in pursuing claims to recover your losses under federal securities laws, you can provide your contact details at www.glancylaw.com/cases/Rentokil-Initial-plc/. Alternatively, you can reach out to Charles H. Linehan at GPM by calling 310-201-9150, toll-free at 888-773-9224, or emailing [email protected] for more information about your rights.

On April 18, 2024, Rentokil announced its first-quarter 2024 financial results, which revealed that its organic revenue growth in North America had only increased by 1.5% compared to the previous year. This was below the earlier guidance of 2%. Following this announcement, the share price dropped by $2.64, a decline of 9.3%, finishing at $25.61 per ADS.

Subsequently, on September 11, 2024, the Company provided an unexpected "Trading Update" indicating that it now anticipated only 1% organic revenue growth in North America for the second half of 2024. The update mentioned that the performance in July and August was weaker than expected, compounded by some mild disruptions to organic growth due to branch integration issues. The Company alluded to these setbacks as execution challenges.

As a result of this announcement, Rentokil's stock plummeted by $6.65, representing a 21% drop, closing at $24.95 per ADS.

The lawsuit claims that throughout the class period, defendants made false or misleading statements and withheld significant adverse facts regarding the Company's business and operations. It alleges that Rentokil faced disruption during the early stages of integrating Terminix, encountered ongoing internal execution challenges, and was not able to effectively integrate Terminix into its operations. These failures reportedly harmed Rentokil's business, particularly its organic revenue growth in North America, undermining the positive statements made by the defendants.

Investors who bought or acquired Rentokil ADSs during the specified Class Period can file a motion with the court until January 27, 2025, to seek appointment as lead plaintiff in this class action. Being part of the class action does not require immediate action; you may choose to hire legal counsel or abstain from active participation.

If you are interested in learning more about this lawsuit or have questions regarding this announcement, please contact Charles Linehan at GPM, located at 1925 Century Park East, Suite 2100, Los Angeles, California 90067, by calling 310-201-9150, toll-free at 888-773-9224, or emailing [email protected]. When inquiring by email, please include your mailing address, phone number, and the number of shares purchased.

This announcement may be considered Attorney Advertising in certain jurisdictions according to applicable laws and ethical regulations.

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