NEW ORLEANS, June 29, 2018 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until August 20, 2018 to file lead plaintiff applications in a securities class action lawsuit against Newell Brands Inc. (NYSE: NWL), if they purchased the Company's shares between February 6, 2017 and January 24, 2018, inclusive (the "Class Period"). This action is pending in the United States District Court for the District of New Jersey.
What You May Do
If you purchased shares of Newell and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nyse-nwl/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by August 20, 2018.
About the Lawsuit
Newell and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On January 25, 2018, Newell revealed expected 2017 core sales significantly below previous guidance partly due to ongoing retailer inventory problems and that it was considering significantly restructuring business by divesting industrial and commercial assets, which it anticipated would result in a 50% reduction in its customer base and global factory and warehouse footprint. Further, the Company disclosed the resignations of three members of its Board.
On this news, the price of Newell's shares plummeted 21% to close at $24.81 per share.
About Kahn Swick & Foti, LLC
KSF, whose partners include the former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163
SOURCE Kahn Swick & Foti, LLC