LOS ANGELES, Oct. 04, 2019 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP (“GPM”) continues its investigation on behalf Sealed Air Corporation (“Sealed Air” or the “Company”) (NYSE: SEE) investors concerning the Company and its officers’ possible violations of federal securities laws.
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If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com.
On June 20, 2019, after the market closed, the Company announced that it had terminated for cause its Chief Financial Officer, following an internal review by the Audit Committee. According to the Company, this review is related to an SEC subpoena regarding the selection of the Company’s independent audit firm and the independence of that audit firm.
On this news, the Company’s share price fell $1.97 per share, or nearly 5%, to close at $41.70 per share on June 21, 2019, thereby injuring investors.
Then, on August 15, 2019, Upslope Capital published a report alleging, among other things, that Sealed Air made misleading earnings adjustments. Upslope stated that Sealed Air has inappropriately excluded "costly, never-ending restructuring programs," totaling more than $500 million, from its non-GAAP financials.
On this news, the Company’s share price fell $1.02, over 2%, to close at $41.99 per share on August 15, 2019, thereby injuring investors further.
If you purchased Sealed Air securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley F. Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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Contacts
Glancy Prongay & Murray LLP, Los Angeles/New York
Lesley F. Portnoy, 310-201-9150 or 888-773-9224
shareholders@glancylaw.com
www.glancylaw.com