Newell Brands, Inc.
|Company Name||Newell Brands, Inc.|
On March 2, 2020, Newell revealed that it had received a subpoena from the Securities and Exchange Commission (“SEC”), “primarily relating to its sales practices and certain accounting matters during the period from January 1, 2016 to the date of the subpoena.” Moreover, the Company disclosed that the subpoena follows document requests “primarily related to the impairment of goodwill and other intangible assets.”
On this news, the Company’s share price fell $0.98 per share, or nearly 6%, to close at $15.47 per share on March 3, 2020, thereby injuring investors.
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