According to the Complaint, Resideo Technologies, Inc. purports to be a global provider of products, software, solutions, and technologies that help homeowners stay connected and in control of their comfort, security, and energy use.

The Complaint alleges that during the Class Period, Defendants made false and misleading statements and/or failed to disclose adverse information regarding Resideo's business and prospects. Specifically, the Complaint alleges Defendants failed to disclose that the negative operational effects of the spin-off were more substantial and persistent than disclosed and had negatively affected the Company's product sales, supply chain, and gross margins, putting Resideo's fiscal 2019 financial forecasts at risk, and that, as a consequence, the Company's financial guidance lacked a reasonable basis and the Company was not on track to make its fiscal 2019 guidance as Defendants had claimed.