Pomerantz LLP is investigating claims on behalf of investors of Spectrum Brands Holdings, Inc. ("Spectrum" or the "Company") (NYSE: SPB). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Spectrum and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On April 26, 2018, Spectrum issued a press release disclosing that the Company's "second quarter performance was very disappointing" due to "challenges related to our two greenfield manufacturing and distribution projects." On the same day, the Company disclosed that Andreas Rouve was stepping down as Spectrum's Chief Executive Officer and that Spectrum had lowered its fiscal year 2018 adjusted EBITDA guidance from $657-$674 million to $600-$617.
On this news, Spectrum's share price fell $19.22, or 20.4%, to close at $75.01 on April 26, 2018.