In re Spectrum Brands Litigation
Spectrum Brands Securities Litigation
Case No. 19-CV-347-JDP

Welcome to the Spectrum Brands Securities Litigation Website

On February 6, 2021, the United States District Court for the Western District of Wisconsin (the “Court”) entered an Order denying without prejudice Lead Plaintiffs’ motion for approval of the proposed Settlement of the Spectrum Brands Securities Litigation and Lead Counsel’s motion for an award of attorney fees and expenses in this matter.  All inquiries regarding the Settlement and the current status of this lawsuit should be directed to Lead Counsel by phone at (212) 554-1407 or email at SpectrumBrands@blbglaw.com. Please continue to check this website for any additional information regarding this litigation. 

 

Summary of the Action and Status of the Proposed Settlement

In this securities class action (the "Action"),  the Court-appointed Lead Plaintiffs, the Public School Teachers’ Pension and Retirement Fund of Chicago and the Cambridge Retirement System (collectively, “Lead Plaintiffs”) allege that defendants Spectrum Brands Holdings, Inc. (“Spectrum”), Spectrum Brands Legacy, Inc. (formerly known as Spectrum Brands Holdings, Inc.) (“Old Spectrum”), HRG Group, Inc. (“HRG”), Andreas R. Rouvé, David M. Maura, and Douglas L. Martin (collectively, “Defendants”) made a series of materially misleading statements and omissions regarding the Company’s operations and financial results during the Class Period (January 26, 2017 to November 19, 2018).  Lead Plaintiffs further allege that the proposed Class of investors in Old Spectrum, Spectrum, and HRG common stock during the Class Period suffered damages when the alleged truth regarding these matters was publicly disclosed.

On August 10, 2020, Lead Plaintiffs and Defendants entered into a Stipulation and Agreement of Settlement setting forth the terms and condition of a proposed settlement of the Action for $39,000,000 in cash (the “Settlement”).  Pursuant to the Court’s September 28, 2020 Order preliminarily approving the proposed Settlement, notice of the Settlement was mailed to potential Class Members beginning on October 28, 2020.  On February 6, 2021, the Court entered an Order denying without prejudice Lead Plaintiffs’ motion for approval of the proposed Settlement and Lead Counsel’s motion for an award of attorney fees.  Please continue to check this website for any additional information regarding the Action. 


How do I obtain more information?

All inquiries regarding the Settlement and the current status of this lawsuit should be directed to Lead Counsel by phone at (212) 554-1407 or email at SpectrumBrands@blbglaw.com

For More Information

Visit this website often to get the most up-to-date information.