SAN DIEGO, Feb. 25, 2020 /PRNewswire/ -- Shareholder
Rights Law Firm Johnson Fistel, LLP is investigating potential
violations of the federal securities laws by Tupperware Brands
Corporation (NYSE: TUP) ("Tupperware") and its officers and
directors.
On February 24, 2020, Tupperware
announced it was conducting an investigation in its financial
accounting and warned of a 2019 profit shortfall. The Company said
it expects 2019 net earnings per share in the range of breakeven to
$0.34 versus $3.11 in the prior year, and adjusted EPS of
$1.35 to $1.70, which is below consensus estimates of
$2.79. Tupperware is investigating
the accounting for accounts payable and accrued liabilities and
estimates that the total pre-tax impact for 2019 to be about
$50 million to $52 million. As a result of the investigation,
the Company would not be filing Form 10-K for the fiscal year ended
December 28, 2019, on a timely
basis.
Following this news, Tupperware's shares plummeted over 20% in
pre-market trading on February 25,
2020.
If you have information that could assist in this
investigation, including past employees and others, or if you are a
Tupperware shareholder and are interested in learning more about
the investigation, please contact Jim
Baker (jimb@johnsonfistel.com) by email or phone at
619-814-4471. If emailing, please include a phone number.
Additionally, you can [click here to join this
action]. There is no cost or obligation to you.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a nationally
recognized shareholder rights law firm with offices in California, New
York, and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonfistel.com. Attorney advertising. Past results do
not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
[click here to join this action].
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SOURCE Johnson Fistel, LLP