#Class Action #Pomerantz LLP #Rentokil

Class Action Lawsuit Announcement Against Rentokil Initial plc

New York, Dec. 9, 2024 — Renowned law firm Pomerantz LLP has announced the filing of a class action lawsuit against Rentokil Initial plc (NYSE: RTO), aimed at protecting shareholders who have suffered financial losses. The firm encourages affected investors to act quickly as the deadline to seek appointment as Lead Plaintiff is January 27, 2025.

On October 12, 2022, Rentokil made headlines with its $6.7 billion acquisition of Terminix Global Holdings, a significant move in the pest control industry. However, recent developments have raised questions about the company’s operational efficacy in integrating this acquisition.

The issue escalated when, on April 18, 2024, Rentokil reported first-quarter financial results indicating a disappointing organic revenue growth of just 1.5% in North America. This figure fell short of the company’s earlier projections of 2% growth for the quarter and 2% to 4% for the entire year. During the subsequent analyst call, concerns were voiced regarding the possible negative impacts of the Terminix integration, contradicting assurances given by the CEO.

In response to these revelations, the stock price of Rentokil saw a significant decline, falling over 9% on April 18, as investors reacted to the unexpected dip in performance.

As if that were not enough, in a surprising September update dated September 11, 2024, Rentokil disclosed a further reduction in their revenue growth expectation, adjusting it to just 1% for the second half of the year. The company cited