ROSEN, TOP RANKED INVESTOR COUNSEL, Encourages Rollins, Inc. Investors with Losses to Inquire About Class Action Investigation – ROL
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 http://www.rosenlegal.com/cases-register-2215.html 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.
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.”
Then, on October 29, 2021, Rollins stated that it “has initiated discussions with the SEC staff regarding a potential resolution of the investigation” and “recorded an accrual related to this matter in the third quarter of 2021.”
On this news, Rollins stock fell $1.02, or 3%, to close at $34.03 per share on November 1, 2021, damaging investors.
SOURCE: The Rosen Law Firm via PRNewswire.com