An investigation on behalf of current long term investors in Resideo Technologies, Inc. (NYSE: REZI) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 04/07/2020 -- An investigation was announced over potential breaches of fiduciary duties by certain directors of Resideo Technologies, Inc.
Investors who are current long term investors in Resideo Technologies, Inc. (NYSE: REZI) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NYSE: REZI stocks follows a lawsuit filed against Resideo Technologies, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: REZI stocks, concerns whether certain Resideo Technologies directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges 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.
Those who purchased shares of Resideo Technologies, Inc. (NYSE: REZI) have certain options and should contact the Shareholders Foundation.
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