Investors can Contact the toll-free law firm to learn more about recovering their losses
LOS ANGELES, May 13, 2022 (GLOBE NEWSWIRE) — Portnoy Law Firm advises investors of Rollins, Inc. (NYSE: ROL) that the firm has opened an investigation into possible securities fraud and may file a class action lawsuit on behalf of the investors. Amgen investors who have lost money on their investment are encouraged to contact Lesley Portnoy, Esq.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone at 844-767-8529 or by email: firstname.lastname@example.org, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. Portnoy Law Firm can provide a free case assessment and discuss options for investors to pursue claims to recover their losses.
On October 28, 2020, Rollins disclosed that a U.S. Securities and Exchange Commission (SEC) investigation had been initiated and believed the SEC was focused on how accrued liabilities and reserves were established at the end of period and their impact on reported earnings back to January. 2015.
Then, on February 26, 2021, Rollins announced that an internal investigation into the same matters revealed “a significant deficiency in the Company’s internal controls relating to the documentation and review of accounting entries for certain reserves and charges to pay”. On this news, Rollins’ stock price fell $0.87, or 2.5%, to close at $33.17 per share on Feb. 26, 2021, hurting investors.
Then, on April 18, 2022, the SEC announced that Rollins had agreed to pay $8 million to settle charges that Rollins made unwarranted reductions in its book reserves to improperly increase its earnings per share. On this news, Rollins’ stock price fell $0.55, or about 1.7%, to close at $34.29 on April 18, 2022, hurting investors.
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Portnoy Law Firm represents investors in the prosecution of claims caused by corporate wrongdoing. The company’s founding partner has recovered more than $5.5 billion for harmed investors. Lawyer advertisement. Prior results do not guarantee similar results.
Lesley F. Portnoy, Esq.
Admitted to the CA and NY Bar