According to the Complaint, Rentokil Initial plc provides pest control, hygiene, and wellness services worldwide. This lawsuit was filed against Rentokil and three of its Officers.

Rentokil announced on October 12, 2022, that it had completed its acquisition of Memphis, Tennessee-based Terminix Global Holdings, Inc. in a transaction valued at $6.7 billion. As a result of the Terminix Acquisition, the Terminix business became part of Rentokil’s pest control business line, making Rentokil the largest pest control services provider in North America. After the Terminix Acquisition closed, Rentokil claimed it was well positioned to successfully integrate Terminix into Rentokil’s pest control business. Throughout the Class Period, Defendants touted Rentokil’s progress and success integrating Terminix and the benefits of the Terminix Acquisition.

The Complaint alleges that, during the Class Period, the Defendants made materially false and misleading statements and failed to disclose material adverse facts about the Company’s business, operations, and prospects, including that: (1) Rentokil experienced levels of disruption in the early pilots of the Terminix integration; (2) Rentokil experienced significant, ongoing, self-inflicted execution challenges integrating Terminix; (3) the disruption and execution challenges imperiled Rentokil’s integration plan for Terminix; (4) Rentokil and Terminix were still two separate businesses that were not yet integrated; (5) Rentokil’s failure to integrate Terminix negatively impacted the Company’s business and operations, particularly organic revenue growth in North America; and (6) as a result of the above, Defendants’ positive statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.