Law offices of howard g. smith announces the filing of a securities class action on behalf of resideo technologies, inc.; provides revenue guidance for the fiscal year 2019

Law offices of howard g. smith announced that a class action lawsuit has been filed on behalf of investors who purchased resideo technologies, inc., common stock between october 10, 2018 and october 22, 2019, inclusive (the “class period”). resideo investors have until january 7, 2020 to file a lead plaintiff motion. the complaint filed in this class action alleges that throughout the class period, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. specifically, defendants failed to disclose to investors: (1) that the negative operational effects of the company's spin-off from honeywell international inc. were more substantial and persistent than disclosed and had negatively affected resideo's product sales, supply chain, and gross margins, putting the company's fiscal year 2019 financial forecasts at risk; and (2) that as a result of the foregoing, the company's financial guidance lacked a reasonable basis and the company was not on track to make its fiscal year 2019 guidance as claimed.for the fiscal year 2019, the company lowered its fiscal 2019 revenue guidance by $80 million.
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