The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Newell Brands Inc. (NYSE: NWL) who purchased shares between February 6, 2017 and January 24, 2018. The action, which was filed in the United States District Court for the District of New Jersey, alleges that the Company violated federal securities laws.
In particular, the NWL lawsuit alleges that (i) the Company’s retail channel was loaded with extremely high levels of unsold Newell product; (ii) contrary to defendants’ representations, the build-up of Newell inventory in the retail channel was due to Company-specific rather than macroeconomic reasons; (iii) as a result of the unusually high levels of unsold inventory in the retail channel, Newell was exposed to a heightened risk that it would experience slower sales growth in future periods; and (iv) undisclosed managerial and cultural differences in the legacy Newell and Jarden businesses had created significant discord that was having a material adverse effect on the Company’s operating performance.
Shareholders have until August 20, 2018 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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