Charlotte corporate giant faces federal probe

CHARLOTTE, N.C. — The Securities and Exchange Commission is investigating financial and accounting issues at Sealed Air Corp., the maker of Bubble Wrap and other packaging products and one of Charlotte’s Fortune 500 corporations, according to a filing related to the company’s second-quarter earnings.

[RELATED: Sealed Air: 2Q Earnings Snapshot]

Deep in its Form 10-Q filing, Sealed Air says on June 25, it received from SEC “a subpoena for documents, including requests concerning the Company’s accounting for income taxes, its financial reporting and disclosures and other matters.”

Sealed Air says it cannot predict the outcome or the duration of the investigation but does not foresee a material effect on its operating results.

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