NEW YORK, NY / ACCESSWIRE / January 24, 2023 / WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Rollins, Inc. (NYSE:ROL) resulting from allegations that Rollins may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased Rollins securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=2735 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.
WHAT IS THIS ABOUT: On October 28, 2020, Rollins disclosed that a U.S. Securities and Exchange Commission (SEC) investigation had been initiated and believed the SEC's focus to be how accruals and reserves were established at period ends and their impact on reported earnings going as far back as January 2015.
Then on February 26, 2021, Rollins announced that an internal investigation into the same matters found "a significant deficiency in the Company's internal controls relating to the documentation and review of accounting entries for certain reserves and accruals." On this news, Rollins share prices fell $0.87, or 2.5%, to close at $33.17 per share on February 26, 2021, damaging investors.
Then on April 18, 2022, the SEC announced that Rollins agreed to pay $8 million to settle the charges that Rollins made unsupported reductions to its accounting reserves to improperly boost its earnings per share. On this news, Rollins share price fell $0.55, or approximately 1.7%, to close at $34.29 on April 18, 2022, damaging investors.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
SOURCE: Rosen Law Firm PA