Shareholder Alert: Robbins LLP Is Investigating the Officers & Directors of Tupperware Brands Corp. (TUP) on Behalf of Shareh...
February 27 2020 - 1:11PM
Business Wire
Shareholder rights law firm Robbins LLP is investigating whether
certain officers and directors of Tupperware Brands Corporation
(NYSE: TUP) violated federal securities laws. Tupperware operates
as a direct-to-consumer marketer of various products across a range
of brands and categories in various regions.
If you suffered a loss as a result of Tupperware's misconduct,
click here.
Tupperware Brands Corporation (TUP) Fails to File Annual
Report On Time
On February 24, 2020, Tupperware announced that it would be
unable to file its annual report for fiscal year ended December 28,
2019. The Company stated that the results were affected by
"financial reporting issues" with its Fuller Mexico segment. Total
impairments for Fuller Mexico are expected to be approximately $31
million. Tupperware is now currently conducting an investigation
into accounting for its accounts payable and accrued liabilities at
Fuller Mexico and the matter is $9-$11 million of the total
expected $19-$21 million full year impact. Tupperware also stated
"the Company is forecasting a need for relief concerning …its $650
million credit agreement… to avoid a potential acceleration of
debt, which could have a material adverse impact on the Company."
On this news, Tupperware's stock price fell 45.6% to close at
$3.11.
Tupperware Brands Corporation (TUP) Shareholders Have Legal
Options
Contact us to learn more: Leo Kandinov (800) 350-6003
LKandinov@robbinsllp.com Shareholder Information Form
Robbins LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action
lawsuits, and has helped its clients realize more than $1 billion
of value for themselves and the companies in which they have
invested. Click here to receive free alerts from Stock Watch when
companies engage in wrongdoing.
Attorney Advertising. Past results do not guarantee a similar
outcome.
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version on businesswire.com: https://www.businesswire.com/news/home/20200227005847/en/
Leonid Kandinov Robbins LLP 5040 Shoreham Place San Diego, CA
92122 LKandinov@robbinsllp.com (619) 525-3990 or Toll Free (800)
350-6003 www.robbinsllp.com
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