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Case Status:    ONGOING    
On or around 09/27/2018 (Ongoing date of last review)

Filing Date: June 21, 2018

According to the law firm press release, Newell Brands Inc. ("Newell") is a global manufacturer and marketer of name-brand consumer products. In April 2016, Newell Rubbermaid, whose brands included Paper Mate®, Sharpie®, Rawlings®, Lenox®, Sunbeam®, Graco® and Rubbermaid®, acquired Jarden Corporation (“Jarden”), a global consumer products company whose brands included Crock-Pot®, FoodSaver®, Mr. Coffee®, Oster®, Coleman®, K2®, Marker® and Marmot®. The combined company was renamed Newell Brands Inc.

The Complaint alleges that during the Class Period, Defendants made materially false and misleading statements and/or failed to disclose adverse information regarding Newell’s business and prospects. Specifically, Defendants misrepresented and/or failed to disclose the following adverse facts, among others: (i) the Company’s retail channel was loaded with extremely high levels of unsold Newell product; (ii) contrary to Defendants’ representations, the build-up of Newell inventory in the retail channel was due to Company-specific rather than macroeconomic reasons; (iii) as a result of the unusually high levels of unsold inventory in the retail channel, Newell was exposed to a heightened risk that it would experience slower sales growth in future periods; and (iv) undisclosed managerial and cultural differences in the legacy Newell and Jarden businesses had created significant internal discord that was having a material adverse effect on the Company’s operating performance. As a result of Defendants’ failure to disclose this adverse information, the Complaint alleges that the price of Newell common stock was artificially inflated during the Class Period to more than $55.00 per share.

On September 27, 2018, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel.


Sector: Consumer Non-Cyclical
Industry: Personal & Household Products
Headquarters: United States


Ticker Symbol: NWL
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data

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COURT: D. New Jersey
DOCKET #: 18-CV-10878
JUDGE: Hon. Katharine S. Hayden
DATE FILED: 06/21/2018
CLASS PERIOD END: 01/24/2018
  1. Carella, Byrne, Cecchi, Olstein, Brody & Agnello, P.C.
    5 Becker Farm Road , Carella, Byrne, Cecchi, Olstein, Brody & Agnello, P.C., NJ 07068
    (973) 994-1700 (973) 994-1744 ·
  2. Robbins Geller Rudman & Dowd LLP (Melville)
    58 South Service Road, Suite 200, Robbins Geller Rudman & Dowd LLP (Melville), NY 11747
    631.367.7100 631.367.1173 ·
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