Plymouth County Retirement Association v. Spectrum Brands Holdings, Inc.

Updated: August 20, 2020
Status: Settled

If you purchased or otherwise acquired common stock of Spectrum, as successor-in-interest to HRG, pursuant or traceable to the Registration Statement for the July 13, 2018, merger of Old Spectrum and HRG, you may be entitled to a payment from a class action settlement.

On August 16, 2019, plaintiff Plymouth County Retirement Association filed an amended securities class action complaint against Spectrum Brands Holdings, Inc. (“Spectrum” or the “Company”) relating to the merger between Spectrum Brands Legacy, Inc. (“Old Spectrum”) and HRG Group, Inc. (“HRG”).  Spectrum, formerly known as HRG, is a global branded consumer products company that manufactures, markets, and distributes a wide array of products, including for example: plumbing and hardware, pet supplies, household products and repellents, and auto care goods.  The amended complaint asserted claims for violations of Sections 11, 12(a)(2) and 15 of the Securities Act of 1933.  The Complaint alleges that the Registration Statement for the July 13, 2018, merger of Old Spectrum and HRG contained false statements and omissions of material fact.  These alleged misstatements primarily concerned undisclosed materially adverse contentions, trends, and uncertainties involving Old Spectrum’s inventory, supply chain, segment goodwill, and operational efficiencies, and are alleged to have caused the Settlement Class to suffer losses after the merger. On August 20, 2020, the Court approved the Settlement, Plan of Allocation, and request for attorneys’ fees and expenses

The case is Plymouth County Retirement Association v. Spectrum Brands Holdings, Inc., et al., No. 19-cv-982.  Labaton Sucharow represents plaintiff Plymouth County Retirement Association.  The defendants are Spectrum, HRG, and certain of their officers and directors.

Submit Claim Form

If you purchased or otherwise acquired common stock of Spectrum, as successor-in-interest to HRG, pursuant or traceable to the Registration Statement for the July 13, 2018, merger of Old Spectrum and HRG, you may be entitled to a payment from a class action settlement.  To be eligible for a payment, you must submit a Claim Form to the Claims Administrator by October 2, 2020.