RM LAW, P.C. announces an 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.
If you purchased shares of Sealed Air and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.
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 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.