The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Southern District of New York on behalf of shareholders of Sealed Air Corporation who purchased shares between November 5, 2014 and August 6, 2018.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (a) Sealed Air had hired its auditor, E&Y, pursuant to a conflicted and improper process and in order to help facilitate defendants’ efforts to engage in accounting fraud; (b) Sealed Air’s deduction of $1.49 billion in connection with the Settlement was indefensible and done for the improper purpose of artificially inflating the Company’s financial results; (c) Sealed Air had artificially inflated its earnings, cash flows, and operating income during the Class Period; (d) as a result of the above, Sealed Air’s Class Period financial statements were materially false and misleading and not prepared in conformance with GAAP; and (e) as a result of the above, Sealed Air’s statements regarding its financial results, business, and prospects were materially misleading.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until December 31, 2019 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.