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Apollo, ADT Execs Juked Stock With Silence On IP Deal: Suit

Law360 (September 13, 2018, 9:08 PM EDT) -- Asset management firm Apollo Global and ADT executives misled investors ahead of the security company's initial public offering, investors said in a derivative shareholder complaint filed in Florida federal court Wednesday, pointing to their failure to mention falling profits and an intellectual property settlement.

Mitch Velasco, the shareholder representative, asserted that ADT's executives breached their fiduciary duties by profiting off of the company's artificially inflated stock prices after making unrealistic projections about its earnings, failing to provide certain revenue and subscriber metrics from 2017 before the...
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Case Information

Case Title

Velasco v. Whall et al


Case Number

9:18-cv-81219

Court

Florida Southern

Nature of Suit

850(Securities/Commodities)

Judge

Judge Robin L. Rosenberg

Date Filed

September 12, 2018

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