REMINDER: Block & Leviton LLP Investigates Newell Brands, Inc. for Possible Securities Laws Violations; Investors Who Lost Money Should Contact the Firm

BOSTON, MA / ACCESSWIRE / June 8, 2020 / Block & Leviton LLP (www.blockesq.com), a national securities litigation firm, reminds investors that it is investigating potential securities fraud by Newell Brands, Inc. (NASDAQ:NWL) and certain of its officers. Investors who have lost money are encouraged to contact the firm for a free case evaluation.

On March 2, 2020, Newell Brands disclosed that it had received a subpoena from the U.S. Securities and Exchange Commission concerning the Company's sales and accounting practices dating back to January 2016. According to a Company spokesperson, Newell Brands had previously received informal document requests from the SEC relating to the impairment of goodwill and other intangible assets. Newell Brands wrote down over $9 billion of goodwill and trade names in 2018, one of the biggest goodwill impairments that year, according to valuation firm Duff & Phelps LLP. News of the subpoena drove the price of Newell Brands shares down over 5% in one trading day.

Then on May 1, 2020, Newell Brands issued a press release with the SEC disclosing its first quarter 2020 financial results. In this release, Newell Brands announced that these results reflected "a $1.5 billion noncash impairment charge recorded in the current quarter," and that this was "primarily related to goodwill and intangible assets." Shares fell approximately 12% on this news.

If you purchased or acquired shares of Newell Brands, and have questions about your legal rights or possess information relevant to this matter, please contact Block & Leviton attorneys at (617) 398-5600, via email at cases@blockesq.com, or at https://shareholder.law/nwl.

Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country's financial markets. The firm represents many of the nation's largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm's lawyers have recovered billions of dollars for its clients.

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CONTACT:

BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
Email: cases@blockesq.com
www.blockesq.com

SOURCE: Block & Leviton LLP