Faruqi and Faruqi remind Rentokil Investors of the Pending Private Class Action with the Lead Plaintiff’s Deadline of January 27, 2025.

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Urges Investors Who Suffered Losses Over $75,000 in Rentokil to Contact Him Directly to Discuss Their Options.

If you have a loss of more than $75,000 per Rentokil between 1 December 2023 and 10 September 2024 and wish to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson live to 877-247-4292 or 212-983-9330 (Ext. 1310).

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New York, New York–(Newsfile Corp. – December 22, 2024) – Faruqi & Faruqi, LLP, a leading national security law firm, is investigating potential allegations against The first Rentokil (LON:) plc (“Rentokil” or the “Company”) (NYSE: RTO) and reminds investors of January 27, 2025 deadline seeking the role of lead plaintiff in a federal class action against the Company.

Faruqi & Faruqi is a leading national security law firm with offices in New York, Pennsylvania, California and Georgia. The firm has raised hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

As described below, the complaint alleges that the Company and its directors violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Rentokil had a violation to the first drivers to integrate Terminix; (2) Rentokil experienced significant, ongoing, self-defeating problems integrating Terminix; (3) disruption and operational challenges posed by Rentokil’s integration plan for Terminix; (4) Rentokil and Terminix were still two separate businesses that had not yet merged; (5) Rentokil’s failure to integrate Terminix had an adverse effect on the Company’s business and operations, particularly organic revenue growth in North America; and (6) as a result of the foregoing, the Defendants’ favorable statements regarding the Company’s business, operations, and prospects were false, misleading and/or unsubstantiated at times all involved.

The truth was first revealed before markets opened on April 18, 2024, when Rentokil issued a press release announcing its financial results for the first quarter of 2024, reporting that organic revenue growth in North America grew just 1.5% year over year — well below the Company’s guidance of 2% for the first quarter and 2% to 4% for of a full year, given six weeks earlier. During a concurrent earnings call held later in the day Chief Executive Officer (“CEO”) Andrew M. Ransom assured investors that “our integration program is moving forward(,)” while the Chief Executive Officer (“CEO”) Andrew M. Ransom assured investors Chief Financial Officer (“CFO”) Stuart M. Ingall-Tombs. maintained, “we are very confident about our current revenue guidance.” In this news, the price of Rentokil ADS decreased by more than 9%, from the closing price of $28.25 per ADS on April 17, 2024, to the closing price of $25.61 per ADS on April 18, 2024.

The truth was revealed on September 11, 2024 when, before the markets opened, Rentokil provided an informal “Business Update”, announcing that the Company now expects organic revenue growth of 1% in North America for second half of 2024 – below the Company’s previous Guidance. In a related announcement, Rentokil revealed, “(T)his business performance in July and August was lower than expected. There was also a moderate disruption of organic growth from branch consolidation.” In a related conference call with analysts later that day, CFO Ingall-Tombs revealed that, after nearly two years of integration efforts, “I think what we have is still because we have two separate businesses, most of which are on the operational front. During the same conference call, CEO Ransom admitted, “This is a show of challenges of execution, execution – the need to improve our performance. It is not a market event. As we see now, if more information appears it gives an opinion. (sic) reserve the right to change that answer, but I don’t think it’s the market (,) I think this is on us.” In this news, the price of Rentokil ADS fell more than 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.

The lead plaintiff appointed by the court is the investor with the greatest financial interest in the relief sought by a reasonable and common class of class members conducting and overseeing the case on behalf of the putative class. Any member of the arbitration panel may have the Court act as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent panel member. Your ability to participate in any recovery is not affected by the decision to serve as the lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information about Rentokil’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

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To view the source version of this release, please visit https://www.newsfilecorp.com/release/234400