Spectrum Brands Agrees To $39M Stock-Drop Settlement

Law360 (August 11, 2020, 9:00 PM EDT) -- Investors in household products company Spectrum Brands Holdings have asked a Wisconsin federal judge to approve a $39 million settlement deal that would end claims that the company misled shareholders about the progress of its efforts to consolidate its facilities.

In a motion filed Monday, lead plaintiffs the Public School Teachers' Pension and Retirement Fund of Chicago and the Cambridge Retirement System told U.S. District Judge James D. Peterson that the multimillion-dollar settlement sum was equal to about 12% of the maximum damages the class realistically could have recovered at trial.

"This is an outstanding result for class members given the...

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