The following statement is being issued by Simpluris, Inc., Fund Administrator for the United States Securities and Exchange Commission, regarding the Newell Brands Fair Fund and Plan of Distribution.
NOTICE OF FAIR FUND DISTRIBUTION PLANIn the Matter of Newell Brands Inc., and Michael B. PolkAdministrative Proceeding File No. 3-21766
For more information, visit www.NewellBrandsFairFund.com
The United States Securities and Exchange Commission (“SEC”) has settled administrative proceedings (the “Order”) against Newell Brands Inc. (“Newell”) and Michael B. Polk (“Polk”) (collectively, the “Respondents”). In the Order, the SEC found that between October 28, 2016, and November 1, 2017, Newell took undisclosed actions, approved by Polk, that increased Newell's core sales growth rate, but were unrelated to Newell's actual sales. Newell disclosed these figures using “core sales growth” and “core sales” financial measures, which are not part of the Generally Accepted Accounting Principles (“GAAP”) standards.
The SEC found that Newell's statements to investors were misleading and violated Securities Act Sections 17(a)(2) and 17(a)(3); various rules under Exchange Act Sections 13(a) and 13(b), and Rule 100(b) of Regulation G.
The SEC ordered the Respondents to pay $12,610,000 in civil money penalties to the Commission. The SEC also created a Fair Fund, pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002, so that the penalties collected can be distributed to harmed investors (the “Fair Fund”).
The Fair Fund will be paid out according to the Plan of Distribution (“Plan”).
A summary of the eligibility criteria and claims process is below. Full details are available at www.NewellBrandsFairFund.com. You may also request a copy of the Plan from the Fund Administrator via email at info@NewellBrandsFairFund.comor by calling 866-675-2320.
Who is eligible to receive a payment from the Fair Fund?To receive a payment, you must have:
— purchased Newell common stock between October 28, 2016, and November 1, 2017;
— approved transactions that calculate to at least $10.00 of Recognized Loss under the Plan;
— not been an Excluded Party under the Plan;
— submitted a valid Claim Form.
How do I submit a Claim?The easiest way to submit a claim is online at the Newell Brands Fair Fund website: www.NewellBrandsFairFund.com. Claim Forms completed online must be submitted on or before 11:59 p.m. Eastern Standard Time on June 12, 2025.
If you are unable to submit a Claim Form online, you may request a copy of the paper Claim Form from the Fund Administrator via email at info@NewellBrandsFairFund.comor by calling 866-675-2320. You may also download a copy of the Claim Form to print from: www.NewellBrandsFairFund.com. Claim Forms submitted via mail must be sent to the address provided on the Claim Form and postmarked (or if not sent by U.S. Mail, then received) by June 12, 2025.
The Fund Administrator will send a Determination Notice advising each Eligible Claimant who timely submitted a Claim Form of their eligibility determination and will provide a calculation of the claimant's Recognized Loss. The Fund Administrator may consider disputes of an Eligible Claimant's Recognized Loss calculation if timely submitted in accordance with the Plan.
This notice is a summary. For more information, visitwww.NewellBrandsFairFund.com
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SOURCE Simpluris Inc.
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