NEW ORLEANS--(BUSINESS WIRE)--ClaimsFiler, a FREE shareholder information service, reminds investors that they have until August 20, 2018 to file lead plaintiff applications in a securities class action lawsuit against Newell Brands Inc. (NYSE: NWL), if they purchased the Company’s shares between February 6, 2017 and January 24, 2018, inclusive (the “Class Period”). This action is pending in the United States District Court for the District of New Jersey.
Newell investors should visit us at https://www.claimsfiler.com/cases/view-newell-brands-inc-securities-litigation or call to speak to our claim center toll-free at (844) 367-9658.
About the Lawsuit
Newell and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On January 25, 2018, Newell revealed expected 2017 core sales significantly below previous guidance partly due to ongoing retailer inventory problems and that it was considering significantly restructuring business by divesting industrial and commercial assets, which it anticipated would result in a 50% reduction in its customer base and global factory and warehouse footprint. Further, the Company disclosed the resignations of three members of its Board.
On this news, the price of Newell’s shares plummeted 21% to close at $24.81 per share.
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