The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Resideo Technologies, Inc. (NYSE: REZI) who purchased shares between October 29, 2018 and October 22, 2019. The action, which was filed in the United States District Court for the District of Minnesota, alleges that the Company violated federal securities laws.
In particular, the Resideo lawsuit alleges that (a) the negative operational effects of the Company’s spin-off from Honeywell International Inc. were more substantial and persistent than disclosed and had negatively affected Resideo’s product sales, supply chain, and gross margins, putting the Company’s FY19 financial forecasts at risk; and (b) as a result of the foregoing, the Company’s financial guidance lacked a reasonable basis and the Company was not on track to make its FY19 guidance as claimed.
Shareholders have until January 7, 2020 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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