The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Sealed Air Corporation (NYSE: SEE) who purchased shares between November 5, 2014 and August 6, 2018. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the Sealed Air lawsuit alleges 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.
Shareholders have until December 31, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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