Kaskela Law LLC announces that a shareholder class action lawsuit has been filed against Tupperware Brands Corporation ("Tupperware" or the "Company") (NYSE: TUP) on behalf of investors who purchased shares of Tupperware’s common stock between January 30, 2019 and February 24, 2020, inclusive (the "Class Period").
Tupperware investors who suffered an investment loss in excess of $100,000 are encouraged to contact Kaskela Law LLC (David Seamus Kaskela, Esq.) at (484) 258 – 1585 or (888) 715 – 1740, or online at http://kaskelalaw.com/case/tupperware-brands-corporation/, for additional information about this action and their legal rights and options.
On February 24, 2020, Tupperware issued a press release reporting preliminary fiscal 2019 financial and operational results. Therein, the Company disclosed, among other things, that it was "conducting an investigation primarily into the accounting for accounts payable and accrued liabilities at its Fuller Mexico beauty business to determine the extent to which these matters may further impact results and to assess and enhance the effectiveness of internal controls at this business." The Company further disclosed that "total impairments for Fuller Mexico are expected to be approximately $31 million. The total pre-tax impact for 2019 is approximately $50-52 million." Following this news, shares of Tupperware’s common stock declined $2.61 per share, or over 46% in value, to close on February 25, 2020 at $3.11 per share, on heavy trading volume.
IMPORTANT DEADLINE: Investors who purchased Tupperware’s common stock during the Class Period may, no later than April 27, 2020, seek to be appointed as a lead plaintiff representative in the action.
Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.