LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Spectrum Brands Holdings, Inc. ("Spectrum Brands" or the "Company") (NYSE: SPB) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. On April 26, 2018, a press release was issued by Spectrum Brands describing the Company’s second quarter performance as “very disappointing.” Spectrum Brands disclosed that CEO Andreas Rouvé would step down the same day. Additionally, the Company lowered its adjusted EBITDA guidance for fiscal year 2018 from $657-$674 million to $600-$617 million. Investors were injured when Spectrum Brands shares fell 20.4%, or $19.22 per share, to close at $75.01 per share on April 26, 2018.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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