OAKLAND, Calif.--(BUSINESS WIRE)--Sealed Air shares declined sharply after the company revealed that it would immediately terminate its CFO following an internal review in connection with an SEC investigation. Gibbs Law Group is investigating a potential Sealed Air Class Action Lawsuit on behalf of investors who lost money in Sealed Air (NYSE: SEE) stock.
To speak privately with an attorney regarding this class action lawsuit investigation, click here.
On June 20, 2019, Sealed Air announced it was terminating its CFO William G. Stiehl for cause, after an internal review by the company’s Audit Committee in connection with a previously disclosed SEC investigation. This came after Sealed Air received an additional subpoena from the SEC earlier this year regarding the company’s audit firm and the selection process for the firm.
According to the Wall Street Journal, “[T]he SEC’s latest subpoena related to the independence of Sealed Air’s audit firm as well as the process the company used to select the audit firm in 2015.” The article notes that Sealed Air switched auditors to Ernst & Young LLP in 2015, per regulatory filings.
On this news, Sealed Air’s stock price fell sharply on June 21, 2019, causing harm to investors.
If you invested in Sealed Air Corporation and would like to speak privately with a securities attorney to learn more about our investigation and your legal rights, visit our website or contact our securities team directly at (888) 410-2925. Our investigation concerns whether Sealed Air Corporation and certain of its officers and/or directors have violated federal securities laws.
Gibbs Law Group represents individual and institutional investors throughout the country in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and our attorneys have received numerous honors for their work, including “Best Lawyers in America,” “Top Plaintiff Lawyers in California,” “California Lawyer Attorney of the Year,” “Top Class Action Attorneys Under 40,” “Consumer Protection MVP,” and “Top Cybersecurity/ Privacy Attorneys Under 40.”
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