id: 330, Created by Stan Vick, Scout
Sealed Air Corporation
How it works?
- Company agreed to pay compensation to its investors, to avoid further litigation
- We help you to prepare documents and file for compensation
Claim deadline for this case already passed by, but we can still try and file for compensation for you
S.D. New YorkCourt
17 Nov 2014Class period Start
20 Jun 2019Class period End
27 Dec 2022Claim deadline
UA Local 13 Pension Fund, et al. v. Sealed Air Corporation, et al.
Sealed Air agreed to pay $12,5 million to settle a securities class action lawsuit accusing the Company of deceiving investors about business, operations, and financial conditions.
The Complaint alleged the Company 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;
- The Company had switched auditors pursuant to a conflicted and improper process and in order to help facilitate efforts to engage in accounting fraud;
- Sealed Air had artificially inflated its earnings, cash flows, and operating income.
Sealed Air agreed to settle with investors to avoid further litigation.
UA Local 13 Pension Fund
Robbins Geller Rudman & Dowd LLP (Melville), Sullivan, Ward, Asher & Patton, P.C.,AsherKelly Blitman & King LLP Robbins Geller Rudman & Dowd LLP (Melville) Trevett Cristo P.C.
Hon.Louis L. Stanton
Gilardi & Co LLC
Court hearing date
20 January 2023
+$12,500,000Total Settlement Amount