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The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Servicemaster Global Holdings, Inc. (NYSE: SERV) who purchased shares between February 26, 2019 and November 4, 2019. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
(a) ServiceMaster had failed to properly inspect and treat for Formosan termite activity; (b) as a result thereof, the Company was and continued to experience a material adverse trend of costly litigation from injured customers which was not disclosed to investors; (c) in an unsuccessful attempt to mitigate this trend, Defendants had been taking remedial measures since at least 2018, including drastically raising prices for termite treatments in Mobile, Alabama to deter contract renewals; and (d) as a result of the foregoing, ServiceMaster’s financial results were reasonably likely to be impacted, and would continue to impact the Company into 2020.
Shareholders have until June 9, 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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