A lawsuit was filed on behalf of investors in Spectrum Brands Holdings, Inc. (NYSE: SPB) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 03/21/2019 -- An investor, who purchased NYSE: SPB shares , filed a lawsuit against Spectrum Brands Legacy, Inc. (f/k/a Spectrum Brands Holdings, Inc over alleged violations of Federal Securities Laws.
Investors who purchased shares of Spectrum Brands Holdings, Inc. (NYSE: SPB) have certain options and for certain investors are short and strict deadlines running. Deadline: May 6, 2019. NYSE: SPB investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
On April 26, 2018, Spectrum Brands Holdings, Inc disclosed its second quarter 2018 results, and that the Company had lowered its fiscal year 2018 adjusted EBITDA guidance from $657-$674 million to $600-$617. In the same announcment, Spectrum Brands Holdings, Inc announced that Executive Chairman David M. Maura was named Chief Executive Officer, effective immediately. Maura stated that the Company faced "challenges related to our two greenfield manufacturing and distribution projects."
The plaintiff claims that between June 14, 2016 and April 25, 2018, Spectrum Brands Holdings misrepresented and failed to disclose that Spectrum Brands Holdings had been self-inflicting the operational issues at its Ohio and Kansas facilities, that these operational issues were, in fact, recurring in nature, that these operational issues would continuously impact production, shipping levels and sales, and that as a result of the foregoing, the Company's financial statements were materially false and misleading at all relevant times.
Those who purchased shares of Spectrum Brands Holdings, Inc. (NYSE: SPB) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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