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INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Spectrum Brands Legacy, Inc. f/k/a Spectrum Brands Holdings, Inc. Investors
[March 19, 2019]

INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Spectrum Brands Legacy, Inc. f/k/a Spectrum Brands Holdings, Inc. Investors


Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Spectrum (News - Alert) Brands Legacy, Inc. f/k/a Spectrum Brands Holdings, Inc. ("Spectrum" or the "Company") (NYSE: SPB) securities between June 14, 2016 and April 25, 2018, inclusive (the "Class Period"). Spectrum investors have until May 6, 2019 to file a lead plaintiff motion.

Investors suffering losses on their Spectrum investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

On April 26, 2018, Spectrum announced its financial and operating results for the fiscal quarter ended April 1, 2018. For the quarter, Spectrum reported net income of $0.8 million, or $0.02 per diluted share, compared to net incme of $39.9 million, or $0.68 per diluted share, for the comparable period in the prior year. The same day, Spectrum also announced that Andreas R. Rouvé had stepped down as Spectrum's Chief Executive Officer ("CEO") and Director and that David M. Maura had been named CEO, effectively immediately. On this news, shares of Spectrum fell $20.50 per share, or nearly 22%, to close at $72.22 per share on April 26, 2018, thereby injuring investors.



The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Spectrum was facing operational issues with the development of its Ohio and Kansas facilities; (2) these issues were negatively impacting production, shipping levels, and sales; and (3) as a result of the foregoing, the Company's financial statements were materially false and misleading at all relevant times.

If you purchased shares of Spectrum, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at 215-638-4847, toll-free at 888-638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.


This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.


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