Wolf Popper LLP Announces Investigation on Behalf of Investors in Sealed Air Corporation
NEW YORK, June 21, 2019
Wolf Popper LLP is investigating potential securities fraud claims on behalf of purchasers of Sealed Air Corporation (NYSE: SEE) common stock from November 14, 2014 through June 20, 2019.
On November 14, 2014, Sealed Air disclosed it was switching its auditing firm from KMPG LLP to Ernst & Young LLP “…following a competitive search process”.
After the market closed on August 6, 2018, Sealed Air filed its 2018 second quarter 10-Q and disclosed the company received from the Securities and Exchange Commission a subpoena for documents, including requests concerning the company's accounting for income taxes, its financial reporting and disclosures and other matters. Sealed Air’s stock price fell $2.19 per share, or down 5.1% the following day.
After the market closed on June 20, 2019, Sealed Air announced it was terminating its Chief Financial Officer, William Stiehl, effective immediately. The press release said “Stiehl’s termination is related to an internal review by the Audit Committee of the Board of Directors in connection with the previously disclosed investigation by the U.S. Securities and Exchange Commission (“SEC”). This review followed the Company’s receipt of an additional subpoena for documents and information on May 2, 2019, relating to the process by which the Company selected its independent audit firm for the period beginning with fiscal year 2015, and relating to the independence of that audit firm. The Company is continuing to cooperate with the SEC’s investigation.”
During the trading day on June 21, 2019, SEE’s stock price is down $2.51 per share to $41.16 per share.
Sealed Air investors should contact Joshua Ruthizer at (212) 759-4600 or (877) 370-7703 or at email@example.com.
Wolf Popper has successfully recovered billions of dollars for defrauded investors. Wolf Popper’s reputation and expertise have been repeatedly recognized by the courts, which have appointed the firm to major positions in securities litigation. See www.wolfpopper.com.
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Wolf Popper LLP
Joshua W. Ruthizer
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New York, NY 10022
Tel.: (212) 759-4600
Tel.: (877) 370-7703
Fax: (877) 370-7704