Company: Spectrum Brands Holdings, Inc. (NYSE: SPB)
Kaskela Law LLC is investigating claims on behalf of investors of Spectrum Brands Holdings, Inc. (“Spectrum Brands” or the “Company”) (NYSE: SPB). The investigation concerns whether Spectrum Brands and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices, and whether Spectrum Brands investors have been harmed as a result.
On April 26, 2018, Spectrum Brands disclosed that the Company’s “second quarter performance was very disappointing” as a result of “challenges related to our two greenfield manufacturing and distribution projects.” Additionally, the Company disclosed that “external cost headwinds and mix combined to deliver a significant negative impact on our sales and margins,” and that “the magnitude of our second quarter shortfall and manufacturing and distribution center start-up inefficiencies has caused us to lower our full-year adjusted EBITDA guidance from continuing operations by $57 million at the mid-point and adjusted free cash flow on a total company basis by $135 million.”
Following this news, shares of Spectrum Brands’ common stock declined $19.22 per share, or over 20%, to close on April 26, 2018 at $75.01, on heavy trading volume.
Spectrum Brands’ investors who purchased securities prior to April 26, 2018 are encouraged to contact Kaskela Law LLC at (888) 715 – 1740 to discuss this investigation and their legal rights and recovery options and/or complete the information form on this page.