Thieler Law Corp, member of the Investor Attorney Network, is investigating whether certain officers and directors of Spectrum Brands Holdings Inc (NYSE: SPB) violated securities laws in connection with certain financial statements.
The investigation seeks to discover if possible claims on behalf of purchasers of the securities of Spectrum Brands Holdings Inc (NYSE: SPB) concerning whether a series of statements by Spectrum Brands Holdings Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On April 26, 2018, a press release issued by Spectrum revealed that the Company's "second quarter performance was very disappointing" due to "challenges related to our two greenfield manufacturing and distribution projects." In addition, the Company revealed that Andreas Rouve was stepping down as Spectrum's Chief Executive Officer and that Spectrum had lowered its fiscal year 2018 adjusted EBITDA guidance from $657-$674 million to $600-$617.
Following this news, NYSE: SPB fell $19.22, or 20.4%, to close at $75.01 on April 26, 2018.
Based in Middleton, Wisconsin, and founded in 1906 Spectrum Brands Holdings Inc manufactures, markets, and distributes branded consumer products.
If you purchased shares of Spectrum Brands Holdings Inc (NYSE: SPB) on or before April 26, 2018, you should contact Thieler Law Corp at mail@thielerlaw.com or call +1 (619) 377 - 4324.
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