|Company name||Sealed Air Corporation|
NEW YORK, January 16, 2020 – Bragar Eagel and Squire is investigating certain officers and directors of Sealed Air Corporation (NYSE: SEE) following a class action complaint that was filed against Sealed Air on November 1, 2019.
The complaint alleges that throughout the class period, defendants engaged in a scheme to deceive the market and a course of conduct that artificially inflated the price of Sealed Air common stock and operated as a fraud or deceit on purchasers of Sealed Air common stock. When the truth about Sealed Air’s misconduct was revealed over time, the value of the Company’s stock declined precipitously as the prior artificial inflation no longer propped up the stock’s price. The decline in the price of Sealed Air stock was the direct result of the nature and extent of defendants’ fraud finally being revealed to investors and the market. The timing and magnitude of the share price decline negate any inference that the losses suffered by plaintiff and other members of the Class were caused by changed market conditions, macroeconomic or industry factors, or Company-specific facts unrelated to the defendants’ fraudulent conduct. The economic loss, i.e., damages, suffered by plaintiff and other Class members was a direct result of defendants’ fraudulent scheme to artificially inflate the price of the Company’s stock and the subsequent significant decline in the value of the Company’s stock when defendants’ prior misrepresentations and other fraudulent conduct were revealed.
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