LOS ANGELES, CA / ACCESSWIRE / April 11, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of ServiceMaster Global Holdings, Inc. ("ServiceMaster" or "the Company") (NYSE:SERV) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. ServiceMaster announced its preliminary financial results for the third quarter of 2019 on October 22, 2019. The Company missed estimates of both revenue and earnings. The Company also gave downward adjusted EBITDA guidance of $415 to $425 million, down from $435 to $445 million. According to the Company's press release, the disappointing results were in part due to "termite damage claims arising primarily from Formosan termite activity," primarily in Mobile, Alabama. According to the Company, this was a known issue, and it had taken mitigation efforts "starting in 2018." The Company also announced the sudden department of Terminix Residential President Matthew J. Stevenson. Based on this news, shares of ServiceMaster fell by 20% on the same day.
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We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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CONTACT:
The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
Cell: 424-303-1964
[email protected]
SOURCE: The Schall Law Firm