SAN DIEGO, June 24, 2021 (GLOBE NEWSWIRE) --
In 2019 a class action lawsuit was filed in federal court against the Company on behalf of purchasers of the securities of Sealed Air from November 5, 2014 and August 6, 2018 (the "Class Period").
According to the filed complaint: defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Company 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; (2) Sealed Air ’s deduction of $1.49 billion, in connection with a settlement resolving asbestos-related liabilities, was indefensible and done for the improper purpose of artificially inflating the Company’s financial results; (3) Sealed Air had artificially inflated its earnings, cash flows, and operating income; and (4) as a result, Sealed Air ’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
If you are a current, long-term shareholder of Sealed Air , holding shares before November 5, 2014, you may have standing to hold Sealed Air harmless from the alleged harm caused by the officers and directors of the Company by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.
If you are interested in learning more about the investigation, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-814-4471. If emailing, please include a phone number.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson Fistel, LLP
Jim Baker, 619-814-4471