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Spectrum Brands Legacy, Inc. f/k/a Spectrum Brands Holdings, Inc.

Company NameSpectrum Brands Legacy, Inc. f/k/a Spectrum Brands Holdings, Inc.
Stock SymbolSPB

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 income 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.

 

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