Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until June 9, 2020 to file lead plaintiff applications in a securities class action lawsuit against ServiceMaster Global Holdings, Inc. (NYSE: SERV), if they purchased the Company’s shares between February 26, 2019 and November 4, 2019, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of ServiceMaster and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-serv/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by June 9, 2020.
About the Lawsuit
ServiceMaster and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On November 5, 2019, pre-market, the Company released its 3Q2019 financial results, disclosing a “challenging quarter” impacted by certain “legacy risks,” including “termite damage claims,” and an increase in termite litigation that occurred “[i]n the past few years” that had impacted termite revenue by 7 to 8 percent, up from the historic impact of termite damage claims of 4 to 4.5%, and that the Company “expect[ed] a year-over-year increase from damage claims of approximately $4 million in the fourth quarter.”
On this news, the price of ServiceMaster’s shares fell, injuring investors.
The case is Michael Ruttenberg, et al. v. ServiceMaster Global Holdings, Inc., et al, 20-CV-02976.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200414006069/en/
Contacts:
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
