LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces that it has commenced an investigation on behalf of Spectrum Brands Holdings, Inc. (“Spectrum” or the “Company) (NYSE: SPB) investors concerning the Company and its officers’ possible violations of federal securities laws. To obtain information or aid in the investigation, please visit the Spectrum investigation page on our website at www.glancylaw.com/case/spectrum-brands-holdings-inc.
On April 26, 2018, Spectrum issued a press release disclosing that the Company’s “second quarter performance was very disappointing” due to “challenges related to our two greenfield manufacturing and distribution projects.” On the same day, the Company disclosed that Andreas Rouvé was stepping down as Spectrum’s CEO and that the Company had lowered its fiscal year 2018 adjusted EBITDA guidance from $657-$674 million to $600-$617.
On this news, Spectrum’s share price fell $19.22 per share, or 20.4%, to close at $75.01 per share on April 26, 2018, thereby injuring investors.
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If you purchased Spectrum 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 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 firstname.lastname@example.org, 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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