A lawsuit was filed on behalf of investors in ADT Inc. (NYSE: ADT) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 06/05/2018 -- The Shareholders Foundation announces that an investor, who purchased shares of ADT Inc. (NYSE: ADT), filed a lawsuit over alleged Securities Laws violations by ADT Inc. (NYSE: ADT in connection with certain allegedly false and misleading statements made in connection with ADT's January 2018 initial public offering (the "Offering" or "IPO").
Investors who purchased shares of ADT Inc. (NYSE: ADT) have certain options and for certain investors are short and strict deadlines running. Deadline: July 20, 2018. NYSE: ADT investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff alleges on behalf of purchasers of ADT Inc. (NYSE: ADT) common shares, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that the defendants made false and/or misleading statements and/or failed to disclose that ADT's Registration Statement made material misrepresentations and omissions by failing to disclose historical metrics integral to appraising ADT "key value drivers.", that ADT's discussions of risk factors did not mention, or adequately describe the risk posed by, the then already occurring 75% increase in year-over-year losses, nor the other complete yet undisclosed materially negative 4Q and FY 2017 results and trends, nor ADT's dependence on the Trump tax cut to meet even the extreme low end of its 2017 estimate ranges, nor the omission of historically critical metrics, nor the likely and consequent materially adverse effects on the Company's future results, share price, and prospects, that Defendants' failure to disclose the then complete materially negative 4Q and FY 2017 results and trends, and ADT's dependence on the Trump tax cut to meet even the extreme low end of its 2017 estimate ranges, much less the likely material effects they would have on ADT's share price, rendered false and misleading the Registration Statement's many references to known risks that "if" occurring "might" or "could" affect the Company, and that as a result, ADT's public statements were materially false and misleading at all relevant times.
On March 15, 2018, ADT Inc. announced its fourth-quarter and full-year 2017 earnings and other financial results, stating, in relevant part: "[T]he Company reported net income of $638 million, up from negative $85 million last year, and diluted earnings per share of $0.99 versus $(0.13) in the prior year. Excluding special items, diluted earnings per share were $(0.06) versus $(0.07) in the same period last year. The net income results include a $690 million tax benefit due to the 2017 Tax Reform."
Those who purchased shares of ADT Inc. (NYSE: ADT) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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92108 San Diego
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