NEW YORK, Dec. 08, 2019 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Resideo Technologies, Inc. (“Resideo” or the “Company”) (NYSE: REZI). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Resideo and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On October 22, 2019, Resideo issued its preliminary financial results for the third quarter of 2019, announcing that it had missed revenue and earnings targets and was lowering its recently reaffirmed revenue outlook for fiscal year 2019 by $80 million. Also, on October 22, 2019, Resideo announced that Joseph D. Ragan III, the Company’s Chief Financial Officer, would be leaving Resideo on November 6, 2019.
Following these announcements, Resideo’s stock price fell $5.73 per share, or 37.62%, to close at $9.50 per share on October 23, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby