https://www.reuters.com/article/securities-honeywell-resideo-idUSL1N2LT3KA
40 replies (most recent on top)
We all grieve for those that mistakenly bought stock … but too bad they lost…. We didn’t… and good luck to them. We have great lawyers so we can go on and on until we have more money… more private jets… more parties… after all we have roger behind us.
Hmmm... the 3rd CTO has started cooperating with the lawsuit. This may become interesting especially as he left suddenly with $$$
Well hopefully we will get more info at the pre trial... would not be surprised if we have to cough up 4b ....
As for the people that ran away... HR is trying to sc––w them over for the lawsuit...
They may reach out to people that left the company from July to December the period of the spin.
If I remember the finances trick started then and got fully implemented by end of December. Should not be an issue to get names and the lawsuits to ask them.
Many left from Brno, Melville , Atlanta, Golden valley.... and many were ressources we should have kept – and we’re still hurting and whining we can’t get the quality... well there you are
@2wtk Pretrial conference scheduled for 5/18.
Hopefully (and they are already) the lawsuits are reaching out to people that left rezi toxic environment and asking for info about specific enablers....
Remember.... it’s very easy to suddenly get common diseases and claim short term disability..... as a way to avoid work and be held accountable.
So get some paper you have something like diabetes or cataracts and get months of paid disability ... tricks are well known...
Guys.... to keep your 250k salary as a director... just claim some medical stuff.... make it look like it’s worse and get months of vacations, then reload. It works we all know it. It’s insane how some people managed to milk this company....lawsuits should look into that.
The extra money is to keep us handcuffed to a sinking ship.
And somehow ADB still runs the show in MV. How? Why? What value has she brought to the company in the last 5 years?
Why do you think they are constantly laying off and trying to keep it as quiet as possible? Why continue to cut everything? What game changing (or even slightly) innovative products are in the pipeline? none...when was last meaningful product released? Cut to the bone, keep the gravy train going for select few, give some merit and some bonus to those you need to keep working. As customer base reduces, sales reduce and competitors continue to eat at our meager market share they know we cannot sustain this......
At this point its about the PERCEPTION of a healthy and sustainable company...not actually being one and it's been that way for a long long time.
: @8moy,
How do you explain all the bonuses and extra salary increases? That’s weird.
I'm in the finance group and confirmed they ARE cutting and there ARE layoffs. its fake new that they arent. Next youll say all the lawsuits are fake news.....what a mo–n.
Confirmed that there will be no changes to salaries and increases will go as planned.
Fake news a bout layoffs. HR got your back !
Not before all those VPs and Directors pilfer the company for all the gravy they can get.
And thanks to corrupt friends in HR they do.
How do you explain the insane bonus given to all those “stars” that take years to deliver a dead product? And learning PM, software, marketing etc...on the job?
Of course there's more layoffs coming..they never stopped. Neither has the dropping sales and feeling customers. Besides bad products and nothing new or innovative who the heck does an installer model in this day and age? no one wants anyone in their house and if we designed them right they would be easy to set up.
How else are they going to pay the billions they need to layout when they lose the myriad of lawsuits for securities fraud.
Of course theres more layoffs coming...it never stopped. dwindling sales, fleeing customers. installer model when no one does that any more and no one wants you in their house.
How else are they going to pay for the Billions they have to pay when they lose the security fraud lawsuits......
Lets take bets if it finally shutters this dead company. I bet it does....but slowly.
More layoffs coming. Superman is strong and coming !
@2zdu 3.6B? You are off by a factor of 50. Gross miscalculation. You must be management.
The fact that those people are still around tells me we are not going to get out of the woods yet
@syl+1ad3YbSK I know this to be true and know who. Maybe he will now get more than a hand-slap. Where is the integrity?!
Add :
the T-Mobile project (DAS variant) and soon
AMaZon.
Many were / are under the “fantastic” leadership of people still there...
ok....i'll start
Titan
Storm
DAS
Jasper
failed C1/C2 cameras
Migrate non-redundant or backed up Honeybadger environment in a closet in Melville to the cloud....didn't even have a project name.
what was the one where Moobs was going to consolidate onto one app? Forgettable project...forgettable guy... lol
The funds are not willing to settle. They feel they got an edge when they are going to go into all those projects that costs a lot and lead nowhere besides being mismanaged. Let’s name all those project that missed their target for years
Negotiations under way to settle this for $3.6B but the pensions funds are not biting.
They are trying to avoid a 10b judgement. Meanwhile all the executives can still fly private planes, and pay themselves huge bonuses.
Gravy still flows.....
Johnny Walker has switched to macallan single 40 years old after his new bonus....
hopefully they will also investigates the products... the water one, storm that ran for years with BS... and all those software c––p. So much to show...
Does anyone know when the suits start in court?
About the Whatapp question , one of the poster who saw the public filing responded with the numbers and locations.
Like previous posters recommended last year. Print or pdf all emails and take screen shots like your life depends on it because it does.
There is no way many of the directors will come out clean. Don’t trust any software, hardware, PMO people (one is very involved in the lawsuit due to storm and Amazon and is cooperating with the lawyers of the other side) as they are in for themselves and are involved in the lawsuit for monetary gain.... what a bunch of #%^?+8
Fake news.... No way that NdM would be involved. He got brought in by roger rabbit ... wait... the current CEO and its friend is also brought in by the rabbit ...
Pattern of pilfering the Corp? Meanwhile we have overpaid people making 250k+ just to give reports ...to cover up their working on projects going nowhere for years...what’s next a strategy dude / gal to lead us into zigbee or a water disaster?
@2zno... I think the gal or guy wanted the original not second hand...
@1zmz So you didn't read the citation in the original article? Sloppy.
https://today.westlaw.com/Document/Ic2198130925c11eba5a3f8040cb7a847/View/FullText.html?transitionType=Default&contextData=(sc.Default)
@1qpb,
Good find. But it would have been great to find the court filings where critical info is being shared... like Whatapp and other deviants behavior by engineering and marketing
@1arv You should check out this great new tool called Google.
https://www.courtlistener.com/docket/16451590/in-re-resideo-technologies-inc-securities-litigation/
In Reuters (look up the link) and get the names and contact info from the Lawyer trying to get money back and send your screen shot copies and info... be it in signal Whatapp or teams ... take screenshot to protect yourself.
Even the latest orders of VP Johnny Walker to never leave written traces should be viewed as an invitation to trouble. Will he pay your legal fee when you are screwed???
No company in good standing would recommend using Whatapp or signal for day to day business unless they have something to hide.
The current employees spilling the beans are from all locations, GV, Austin, Melville as well as Strasbourg 5 are director level and above.
Former employees are currently living in Austin, Atlanta , Long Island area, Minneapolis, Mougins, Bangalore
Yes, we were definitely told to use whats app because it was encrypted. I let the lawyers who called me know this. I also did screen shots and forwarded these to the legal teams (yes, multiple law firms spoke to me). Not only engineering messages but otuage messages notifying "leadership" there are known issues not being addressed for long periods of time. It goes from the very top down to the Mike the Stain Levels.
Brian ... stop it.
As for former employees one stood out in Melville. Current are in GV and Austin
Please provide the links to the famous briefs... instead of empty trash
You are ridiculous. The everything has been filed for a long time. You can easily look up Judge Wrights docket, decisions, and the attorney filings. This isn't The Pelican Brief.
I mentioned WhatsApp because the judge specifically pointed out "The complaint had cited one person who said an executive instructed employees to use encrypted chat application WhatsApp, rather than email, to discuss "potentially damaging" information as emails are "easily discoverable.""
There are also testimonies from >current employees that will be coming. Expect some people at the executive level to be implicated.....and also directors level...
Personal lawsuits against those VPs and Directors is possible and likely
Nope, not about signal or whatsapp....... well... the trick is already out there... GO quickly into medical leave for the next 3+ months and get paid in full including raises. Then reevaluate. Well known trick that some have employed.
The lawsuit will also look at the current deal with Amazon... more surprises there... Same for Storm.... but again... don't blame anyone :)
LOL. Leaving their dirt on WhatsApp. I thought the shady people at rezi stuck to Signal.