September 13, 2019 - The court was notified that a settlement in principle had been reached.

January 15, 2019 - An amended complaint was filed.

May 21, 2018 - An investor in shares of ADT Inc (NYSE: ADT) filed a lawsuit in the U.S. District Court for the Southern District of Florida over alleged violations of Federal Securities Laws by ADT Inc in connection with certain allegedly false and misleading statements made in connection with ADT’s January 2018 initial public offering (the “Offering” or “IPO”). Boca Raton, FL based ADT Inc provides security and automation solutions for homes and businesses in the United States and Canada.

On February 16, 2016, ADT Inc announced that it has entered into an agreement to be acquired by an affiliate of certain funds managed by affiliates of Apollo Global Management LLC (NYSE: APO) and co-investors and merged with a subsidiary of Prime Security Services Borrower LLC, also owned by the Apollo Funds, for $42.00 per share in cash.

In early 2018, ADT Inc went public again and shares of ADT Inc (NYSE: ADT) reached $12.95 per share in late January 2018. According to the complaint the plaintiff alleges on behalf of purchasers of ADT Inc (NYSE: ADT) common shares, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that the defendants made false and/or misleading statements and/or failed to disclose that ADT Inc’s Registration Statement made material misrepresentations and omissions by failing to disclose historical metrics integral to appraising ADT Inc “key value drivers.”, that ADT Inc’s discussions of risk factors did not mention, or adequately describe the risk posed by, the then already occurring 75% increase in year-over-year losses, nor the other complete yet undisclosed materially negative 4Q and FY 2017 results and trends, nor ADT Inc’s dependence on the Trump tax cut to meet even the extreme low end of its 2017 estimate ranges, nor the omission of historically critical metrics, nor the likely and consequent materially adverse effects on the Company’s future results, share price, and prospects, that defendants’ failure to disclose the then complete materially negative 4Q and FY 2017 results and trends, and ADT Inc’s dependence on the Trump tax cut to meet even the extreme low end of its 2017 estimate ranges, much less the likely material effects they would have on ADT Inc’s share price, rendered false and misleading the Registration Statement’s many references to known risks that “if” occurring “might” or “could” affect the Company, and that as a result, ADT Inc’s public statements were materially false and misleading at all relevant times.

On March 15, 2018, ADT Inc announced its fourth-quarter and full-year 2017 earnings and other financial results, stating, in relevant part: “[T]he Company reported net income of $638 million, up from negative $85 million last year, and diluted earnings per share of $0.99 versus $(0.13) in the prior year. Excluding special items, diluted earnings per share were $(0.06) versus $(0.07) in the same period last year. The net income results include a $690 million tax benefit due to the 2017 Tax Reform.”