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.
Sealed Air Corporation Securities Litigation (2019)
Nov 05, 2019 |
Sealed Air Corporation NYSE: SEE |
Case Status: Filed
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Lawsuit Overview
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First Identified Complaint
UA Local 13 & Employers Group Insurance Fund, et al. v. Sealed Air Corporation, et al.
First Identified Complaint Filings
# | Document Title | Filing Date |
---|---|---|
1 | Class Action Complaint for Violation of the Federal Securities Laws | November 1st, 2019 |
2 | U.S. District Court Civil Docket | November 1st, 2019 |