BENSALEM, Pa., Nov. 01, 2019 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith continues its investigation on behalf of Sealed Air Corporation (“Sealed Air” or the “Company”) (NYSE: SEE) investors concerning the Company and its officers’ possible violations of federal securities laws.
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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com