Market Overview

Glancy Prongay & Murray LLP Announces the Filing of a Securities Class Action on Behalf of Newell Brands Inc. Investors

Share:

National securities litigation law firm Glancy
Prongay & Murray LLP
("GPM") announces that a class action
lawsuit has been filed on behalf of investors that purchased Newell
Brands Inc. ("Newell" or the "Company") (NYSE: NWL)
between February 6, 2017 and January 24, 2018, inclusive
(the "Class Period"). Newell investors have until August 20,
2018
to file a lead plaintiff motion.

If you are a shareholder who suffered a loss, click here
to participate.

Investors that suffered losses on their Newell investments are
encouraged to contact Lesley Portnoy of GPM to discuss their legal
rights in this class action at 310-201-9150 or by email to shareholders@glancylaw.com.

On January 25, 2018, Newell announced expected 2017 core sales
significantly below previous guidance partly due to ongoing retailer
inventory problems. The Company further disclosed that it was
considering significantly restructuring Newell's overall business by
divesting industrial and commercial assets, resulting in a 50% reduction
in its customer base and global factory and warehouse footprint. That
same day, the Company disclosed the resignations of three members of its
Board. On this news, shares of Newell fell $6.42, or 21% to close
at $24.81 on January 25, 2018, thereby injuring investors.

The complaint filed in this class action alleges that 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.

Follow us for updates on Twitter: twitter.com/GPM_LLP.

If you purchased shares of Newell during the Class Period you may move
the Court no later than August 20, 2018 to ask the Court to
appoint you as lead plaintiff. To be a member of the Class you need not
take any action at this time; you may retain counsel of your choice or
take no action and remain an absent member of the Class. If you wish
to learn more about this action, or if you have any questions concerning
this announcement or your rights or interests with respect to these
matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century
Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150,
Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com,
or visit our website at www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.

This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.

View Comments and Join the Discussion!