ALERT: Pawar Law Group Announces a Securities Class Action Lawsuit Against Newell Brands Inc. – NWL
NEW YORK, NY / ACCESSWIRE / August 11, 2018 / Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of Newell Brands Inc. (NYSE: NWL) between February 6, 2017 and January 24, 2018, both dates inclusive (the “Class Period”). The lawsuit seeks to recover damages for Newell Brands investors under the federal securities laws.
To join the Newell Brands class action, go to http://pawarlawgroup.com/cases/newell-brands-inc/ or call Vik Pawar, Esq. toll-free at 888-589-9804 or email email@example.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Newell Brands’ retail channel was loaded with extremely high levels of unsold Newell Brands product; (2) contrary to defendants’ representations, the build-up of Newell Brands inventory in the retail channel was due to Newell Brands-specific rather than macroeconomic reasons; (3) as a result of the unusually high levels of unsold inventory in the retail channel, Newell Brands was exposed to a heightened risk that it would experience slower sales growth in future periods; and (4) undisclosed managerial and cultural differences in the legacy Newell Brands and Jarden businesses had created significant internal discord that was having a material adverse effect on the Newell Brands’ operating performance. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 20, 2018. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://pawarlawgroup.com/cases/newell-brands-inc/to join the class action. You may also contact Vik Pawar of Pawar Law Group toll free at 888-589-9804 or via email at firstname.lastname@example.org.
Pawar Law Group represents investors from around the world.
SOURCE: Pawar Law Group