Spruce Point Capital Management Announces Investment Opinion: Releases Report and Strong Sell Research Opinion on Resideo Technologies, Inc. (NYSE: REZI)
NOTE TO EDITORS: The Following Is an Investment Opinion Issued by Spruce Point Capital Management
Identifies Long-Term Failures By Management To Achieve Organic Growth, Margin or Cash Flow Targets or To Rectify Operational Challenges And Complexities With A Fully Implemented ERP System
Expresses Concerns With The Revolving Door At the CFO and CAO Roles, While Financial Reporting and Accounting For Recent M&A Transactions, Notably First Alert And Snap One Holdings, Appears Problematic
Believes That Dubious Recurring Restructuring Add-Backs and Questionable Tax Maneuvers At Foreign Entities Where Deloitte Was Replaced As Auditor May Be Inflating Financial Results
Calls on the Audit Co