Sealed Air Corporation Securities Litigation (2019)

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Lawsuit Overview

Defendant:Sealed Air Corporation
Date Filed:November 1st, 2019
Sector:Basic Industries
Industry:Major Chemicals

According to the Complaint, Sealed Air Corporation is a manufacturer of packing materials based in Charlotte,
North Carolina.

The Complaint alleges that during the Class Period, Defendants made false and misleading statements and/or failed to disclose adverse information regarding Sealed Air's business, operations, and financial condition. Specifically, the Complaint alleges Defendants failed to disclose that Sealed Air's deduction of $1.49 billion in connection with a settlement of asbestos liabilities was indefensible and done for the improper purpose of artificially inflating Sealed Air's financial results; that Sealed Air had switched auditors pursuant to a conflicted and improper process and in order to help facilitate Defendants' efforts to engage in accounting fraud; and that Sealed Air had artificially inflated its earnings, cash flows, and operating income during the Class Period.

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First Identified Complaint

UA Local 13 & Employers Group Insurance Fund, et al. v. Sealed Air Corporation, et al.

Date Filed:November 1st, 2019
Class Period Start:November 5th, 2014
Class Period End:August 6th, 2018
First Identified Complaint Filings
#Document TitleFiling Date