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NYSE: REZI Shareholder Notice: Update in Lawsuit against Resideo Technologies, Inc. announced by Shareholders Foundation

Shareholders Foundation, Inc.
·2 min read

SAN DIEGO, June 08, 2021 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in NYSE: REZI shares.

Investors, who purchased shares of Resideo Technologies, Inc. (NYSE: REZI) in September 2018 or earlier and continue to hold any of those NYSE: REZI shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On November 8, 2019, a lawsuit was filed against Resideo Technologies over alleged Securities Laws Violations. The plaintiff alleged that the defendants failed to disclose that the negative operational effects of the spin-off were more substantial and persistent than disclosed and had negatively affected the Company’s product sales, supply chain, and gross margins, putting Resideo Technologies, Inc’s fiscal 2019 financial forecasts at risk, and that, as a consequence, the Company’s financial guidance lacked a reasonable basis and the Company was not on track to make its fiscal 2019 guidance as defendants had claimed. The plaintiff says that as a result of defendants’ material misrepresentations and omissions, Resideo Technologies, Inc stock traded at artificially inflated prices of more than $26 per share between October 29, 2018 and October 22, 2019.

On April 10, 2020, a consolidated amended complaint was announced and on July 10, 2020, the defendants filed a Motion to Dismiss the consolidated amended Complaint.

On March 30, 2021, the Court issued an Order denying Defendants' Motion to Dismiss.

Those who purchased Resideo Technologies, Inc. (NYSE: REZI) shares should contact the Shareholders Foundation, Inc.

CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.