A lawsuit was filed on behalf of investors in Sealed Air Corporation (NYSE: SEE) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 11/13/2019 -- An investor, who purchased shares of Sealed Air Corporation (NYSE: SEE), filed a lawsuit over alleged violations of Federal Securities Laws by Sealed Air Corporation.
Investors who purchased shares of Sealed Air Corporation (NYSE: SEE) have certain options and for certain investors are short and strict deadlines running. Deadline: December 31, 2019. NYSE: SEE investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
Charlotte, NC based Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. On August 6, 2018, during aftermarket hours, Sealed Air Corporation (NYSE: SEE) disclosed that it had received a subpoena for documents from the U.S. Securities and Exchange Commission, including requests concerning the company's accounting for income taxes, financial reporting and disclosures and other matters. On June 20, 2019, Sealed Air Corporation revealed that it fired CFO Bill Stiehl, after its internal audit committee conducted a review following the SEC subpoena.
The plaintiff claims that between November 5, 2014 and August 6, 2018, the defendants made false and misleading statements and/or failed to disclose adverse information regarding Sealed Air's business, operations, and financial condition. Specifically, defendants failed to disclose that Sealed Air's deduction of $1.49 billion in connection with a settlement of asbestos liabilities was indefensible and done for the improper purpose of artificially inflating Sealed Air's financial results; that Sealed Air had switched auditors pursuant to a conflicted and improper process and in order to help facilitate defendants' efforts to engage in accounting fraud; and that Sealed Air had artificially inflated its earnings, cash flows, and operating income between November 5, 2014 and August 6, 2018.
Those who purchased shares of Sealed Air Corporation (NYSE: SEE) have certain options and should contact the Shareholders Foundation.
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