NEW YORK, June 20, 2014 /PRNewswire/ --Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in The ADT Corporation ("ADT" or the "Company") (NYSE: ADT) of the June 27, 2014 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against ADT and certain executives.
A complaint has been filed in the Southern District of Florida on behalf of all persons who purchased ADT common stock between November 27, 2012 and January 29, 2014, inclusive (the "Class Period").
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that throughout the Class Period, defendants made false and misleading statements and/or failed to disclose that: (i) ADT had experienced reduced non-Pulse demand; (ii) the Company's churn rate and attrition was accelerating; (iii) ADT's advertising and service costs were increasing; and (iv) the Company had been relying on its aggressive share repurchases to artificially inflate its reported earnings per share ("EPS").
On January 30, 2014, ADT announced disappointing results for its first quarter of 2014, far less than ADT's prior bullish EPS guidance.
Following this news, the Company's shares declined by $6.41 per share, or over 16%, to close at $31.40 per share on January 30, 2014.
Request more information now by clicking here: www.faruqilaw.com/ADT. There is no cost or obligation to you.
Take Action
If you invested in ADT stock, bonds or options between November 27, 2012 and January 29, 2014 and would like to discuss your legal rights, visit www.faruqilaw.com/ADT. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding ADT's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.
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Attn: Richard Gonnello, Esq.
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