|[February 10, 2014]
SHAREHOLDER ALERT: Levi & Korsinsky, LLP Launches Investigation of THE ADT CORPORATION for Possible Violations of Federal Securities Laws
NEW YORK --(Business Wire)--
Levi & Korsinsky is investigating The ADT Corporation ("ADT" or the
"Company") (NYSE:ADT) for possible violations of federal securities
laws. The investigation stems from statements issued regarding ADT's
business, operations, financial prospects, and share buyback program.
Click here to learn more about the investigation: http://zlk.9nl.com/the-adt-corporation-adt
or call: 877-363-5972. There is no cost or obligation to you.
In 2012, Keith Meister, founder of hedge fund Corvex Management LP
("Corvex"), announced that Corvex owned 5% of the ADT shares. At the
same time,Meister announced a target price for ADT of $61 per share and
joined the Company's board of directors. Subsequently, the board
authorized a $2 billion share buyback. In November 2013, ADT agreed to
repurchase 10.24 million shares from Corvex at $44.01 a share. Meister
suddenly resigned from ADT's board during this time period.
Prior to the markets opening on January 30, 2014, ADT issued a press
release announcing its 2014 first quarter financial results being
significantly lower than expectations based on the Company's prior
guidance. In reaction to these results, ADT stock dropped $6.41 or 17%,
If you own ADT stock and wish to obtain additional information about the
investigation and your legal rights, please contact Joseph E. Levi, Esq.
either via email at email@example.com or
by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/the-adt-corporation-adt.
Levi & Korsinsky is a national firm with offices in New York, New
Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have
extensive expertise in prosecuting securities litigation involving
financial fraud, representing investors throughout the nation in
securities and shareholder lawsuits. For more information, please feel
free to contact any of the attorneys listed below. Attorney advertising.
Prior results do not guarantee similar outcomes.
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