LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation on behalf of ServiceMaster Global Holdings, Inc. ("ServiceMaster" or the Company") (NYSE: SERV) investors concerning the Company and its officers’ possible violations of federal securities laws.
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On October 22, 2019, ServiceMaster announced preliminary third quarter 2019 financial results, reporting net income of $25 million compared to net income in the prior year period of $71 million, and attributed the results to "termite damage claims arising primarily from Formosan termite activity." The Company also announced the sudden departure of Matthew J. Stevenson from his role as President of Terminix Residential.
On this news, the Company's share price fell $11.44, or 20%, to close at $44.70 per share on October 22, 2019, thereby injuring investors.
Then, on November 5, 2019, ServiceMaster announced its third quarter 2019 financial results in a press release that revealed the Company had been impacted by certain "legacy risks," including "termite damage claims."
On this news, the Company's share price fell $1.42, or nearly 4%, to close at $39.15 per share on November 5, 2019, thereby injuring investors further.
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If you purchased ServiceMaster securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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