PHILADELPHIA, Feb. 26, 2020 /PRNewswire/ -- 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 (D. Seamus Kaskela,
Esq.) at (888) 715 – 1740, or by email at
skaskela@kaskelalaw.com, to discuss this action and their legal
rights and options. Additional information may also be found
at http://kaskelalaw.com/case/tupperware-brands-corporation/.
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.
Tupperware investors are encouraged to contact Kaskela Law LLC
to discuss their legal rights and options with respect to this
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.
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SOURCE Kaskela Law LLC