|Company Name||Rollins, Inc.|
On October 28, 2020, Rollins disclosed that the SEC “is conducting an investigation, which the Company believes is primarily focused on how it established accruals and reserves at period-ends and the impact of those accruals and reserves on reported earnings . . . beginning January 1, 2015.”
On this news, Rollins stock declined $1.42, or 3.5%, to close at $38.89 per share on October 29, 2020.
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 “has initiated discussions with the SEC staff regarding a potential resolution of the investigation” and “recorded an accrual related to this matter in the third quarter of 2021.”
On this news, Rollins stock fell $1.02, or 3%, to close at $34.03 per share on November 1, 2021, thereby injuring investors.
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