Invested in
Spectrum Brands Holdings?
Contact investor lawyers for a free evaluation of your potential claims for compensation today.
- Did you invest in Spectrum Brands Holdings, Inc. (NYSE: SPB) between January 26, 2017 and November 19, 2018 and do you still hold your SPB shares?
- Are you concerned about the allegations of false statements and omissions of material fact concerning undisclosed materially adverse and uncertainties about company’s inventory, and supply chain, among others?
- Would you like your potential options for compensation and/or redress to be reviewed by an experienced team of investor lawyers?
Request a free case evaluation via email at arosca@rscounsel.law, leave a message through the contact form on this page, or call us at 888-998-0530.
Contact Us About Your
Investments
Free Case Evaluation
THE SPECTRUM BRANDS INVESTOR CENTER IS THE RESOURCE FOR INVESTORS WHO INVESTED IN SPECTRUM BRANDS HOLDINGS SHARES.
- Free Case Evaluation
- No Fees if No Recovery
- Contact Us Today
We can also do a Zoom call to discuss your matter.
Posted July 22, 2022
Spectrum Brands Holdings Investigation
Securities attorneys Alan Rosca and Paul Scarlato have been investigating alleged securities violations, corporate misconduct, and questionable business practices and misrepresentations involving Spectrum Brands Holdings and have identified potential areas of concern.
SPB stock investors interested to evaluate potential options to seek compensation and/or pursue claims related to their Spectrum Brands holdings may contact investor rights attorneys Alan Rosca and Paul Scarlato. Attorneys Rosca and Scarlato have extensive experience in seeking compensation related to investor harm and pursuing claims arising out of corporate misconduct and are currently evaluating potential claims on behalf of investors in Spectrum Brands They typically work on a contingent fee basis, do not require any money down from their clients, advance case expenses, and only get paid for their fees and expenses if and when successful, pursuant to court review and approval.
Claims that are not timely pursued may expire or otherwise be lost, generally speaking. Spectrum Brands investors interested to explore options to file claims should consider taking action promptly.
Concerned SPB stock investors may contact attorneys Alan Rosca or Paul Scarlato to discuss their potential options toll free at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
About Spectrum Brands Holdings Inc.
Spectrum Brands Holdings Inc. is a Middleton, Wisconsin based company, formerly known as HRG Group. Between January 7, 2011 and July 13, 2018, HRG Group reportedly held a majority stake in Spectrum Brands Holdings, Inc. (“Spectrum Legacy”). During this period, Spectrum Legacy’s common stock traded on the New York Stock Exchange (“NYSE”) under the ticker symbol “SPB,” and HRG’s common stock traded on the NYSE under the ticker symbol “HRG.”
In July 2018, HRG and Spectrum merged, and the resulting company assumed the name Spectrum Brands Holdings, Inc. traded on the NYSE under the ticker symbol “SPB.”
Spectrum Brands Holdings is a consumer products company that reportedly manufactures, markets, and distributes a variety of products in approximately 160 countries. The company reportedly provides products to consumers through retail partners such as Wal-Mart, Home Depot, and Lowe’s. The company had several business segments, including Global Auto Care (“GAC”); Hardware and Home Improvement (“HHI”); Global Batteries and Appliances; Home and Garden; and Global Pet Supply.
Spectrum Brands Class Action Complaint Alleged Violations of Securities Laws
In April 2019, a class action complaint was filed against Spectrum Brands Legacy, Inc. f/k/a Spectrum Brands Holdings, Inc., Andreas R. Rouvé (former CEO), David M. Maura (current CEO), and Douglas L. Martin (former CFO).
The plaintiffs alleged, among others, that the Defendants made false statements regarding the success of the consolidation of operations of GAC and HHI divisions. According to the complaint, Defendants allegedly failed to disclose that the GAC and HHI consolidations were suffering from fundamental execution problems.
Furthermore, in April 2018, Spectrum Brands published financial results which it characterized as “very disappointing” and reportedly attributed to the challenges related to the consolidation projects. The company also announced the termination of then CEO Andreas Rouvé and his replacement by David Maura. Upon the announcement, the price HRG stock reportedly fell 22% in one day.
Then in November same year, the company disclosed another unsuccessful quarter, indicating among others that the consolidations continued to negatively impact Spectrum’s financial results, despite earlier reported claims that the issues were transitory. The news reportedly caused a stock price decline of additional 19%.
As a result, the plaintiffs sought compensatory damages, as well as reasonable attorneys’ fees and costs, and expert fees. On March 21, 2022, the Court entered a judgment in this case approving a Settlement Agreement.
Potential Compensation Claims
Spectrum Brands Shareholders May Have Options
Investor rights attorneys Alan Rosca and Paul Scarlato at Rosca Scarlato LLC are investigating potential options and are evaluating potential claims on behalf of SPB shareholders. They have decades of combined experience representing victims of corporate or financial misconduct.
If you are a Spectrum Brands investor concerned about your investment, you may contact attorneys Alan Rosca or Paul Scarlato to learn more about your rights and for an evaluation of your case, or to provide useful information. All consultations are free. The Rosca Scarlato LLC attorneys typically take cases like this on a contingency fee basis, advance all case costs, and only get paid for their fees and expenses if and when they are successful, following review and approval by the Court of any fee application.
To reach attorney Alan Rosca or his colleagues, Spectrum Brands investors may call 888-998-0530, email arosca@rscounsel.law, or leave a message through the contact form on this webpage.
These general considerations are for informational purposes only and do not constitute legal advice. Such legal advice can only be offered once the attorneys discuss each investor’s situation, learn of the relevant facts and can tailor any advice to that investor’s facts. Spectrum Brands investor center is not affiliated with Spectrum Brands Holdings Inc.
Contact info:
Rosca Scarlato LLC – 216-946-7070 / 888-998-0530.
Alan Rosca – arosca@rscounsel.law
Paul Scarlato – pscarlato@rscounsel.law
Recent Investigations
- Posted on
- Posted on
DISCLAIMER
In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow matters about which we report, and/or to publish subsequent updates regarding various developments that may occur in such matters. Readers are encouraged to conduct their own research regarding any such matters and any developments that may or may not have occurred in such matters. Also, the Brokercheck report linked to some of our blogs is the up-to-date version as of the date of accessing by the reader. The information in our blogs is current as of the date of the drafting of the blog, and given that sometimes certain past complaints may no longer be listed in newer Brokercheck reports, some of the events referenced in some of our blogs may later on be removed from newer Brokercheck reports. Visitors may check the most recent version of each brokercheck report at www.finra.org, and may contact FINRA for the earlier version of the Brokercheck report upon which various blogs may be based.