According to the Complaint, Resideo Technologies, Inc. purports to be a global provider of products, software, solutions, and technologies that help homeowners stay connected and in control of their comfort, security, and energy use.

The Complaint alleges that during the Class Period, Defendants made false and misleading statements and/or failed to disclose adverse information regarding Resideo’s business and prospects. Specifically, the Complaint alleges 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’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.

On January 27, 2020, the Court issued an Order consolidating cases and appointing Lead Plaintiffs and Counsel. All future docketing was ordered to be done in the lead case 19-CV-02863.

Lead Plaintiffs filed a consolidated amended Complaint on April 10. Defendants filed a Motion to Dismiss the consolidated amended Complaint on July 10. On March 30, 2021, the Court issued an Order denying Defendants' Motion to Dismiss.

The parties entered into a Stipulation and Agreement of Settlement on August 17, 2021. On October 21, the Court granted preliminary approval of the Settlement. On March 25, 2022, the Court granted final approval of the Settlement, awarded attorneys' fees and expenses, and entered Final Judgment. The Court issued an amended Judgment on April 14.

On October 10, 2023, the Court issued an Order authorizing distribution of the net Settlement fund.