Sign In
Step 1
Unite with Fellow Investors
Step 2
Choose the Best Attorney
Step 3
Provide Documents
Step 4
Follow Case Progress
Step 5
Get Payout
ROL.US
id: 1005, Created by , Scout

Rollins (ROL) SEC Investigation and Internal Controls Deficiency Case

  • In October 2020 Rollins (ROL) disclosed ongoing SEC investigation into Company’s accounting and reporting practices.
  • On it, $ROL fell 3.5%, losing $1.05B+ of shareholder value.
  • Then in February 2021, Rollins stated that at internal investigation into the matters related to the SEC investigation found a significant deficiency in the Company’s internal controls.
  • On it, $ROL fell 2.44%, losing $401M+ of shareholder value.
  • Then in October 2021, Rollins stated that it initiated discussions with SEC to resolve the investigation, and recorded a related accrual.
  • On it, $ROL fell 2.9%, losing $498M+ of shareholder value.
  • Investors may have grounds to suspect that Rollins hid its accounting and reporting setbacks, which led to their losses.
On October 28, 2020, Rollins disclosed that the SEC was conducting an investigation, primarily focused on accruals and reserves at period-ends and their impact on reported earnings, beginning January 1, 2015. Then, on February 26, 2021, Rollins stated that at internal investigation into the matters related to the SEC investigation found a significant deficiency in the Company’s internal controls relating to the documentation and review of accounting entries for certain reserves and accruals. Then, on October 29, 2021, Rollins stated that it initiated discussions with the SEC on a potential resolution of the investigation and recorded a related accrual in Q3’ 21.

On the news on this matter, $ROL fell 3.5% and lost over $1.05 billion of its market capitalization on October 29, 2020,
then $ROL fell 2.44% and lost over $401 million of its market capitalization on February 26, 2021,
and then $ROL fell 2.9% and lost over $498 million of its market capitalization on November 1, 2021,
seriously damaging shareholders on three occasions.

Considering all the information, investors might have grounds to suspect that Rollins failed to timely disclose its regulatory setbacks, which led to their losses.

The case is already under investigation by at least one of the reputable law firms.
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
01 November 2021
Collecting participants…

Rollins Inc

Rollins, Inc., through its subsidiaries, provides pest and wildlife control services to residential and commercial customers in the United States and internationally. The company offers pest contro...

    Ticker
    ROL.US
    ISIN
    US7757111049
    CIK
    84839
    Sector
    Consumer Cyclical
    Industry
    Personal Services
    Country
    USA
    Address
    2170 Piedmont Road, NE, Atlanta, GA, United States, 30324