Kaskela Law LLC Announces Shareholder Class Action Lawsuit Filed Against Tupperware Brands Corp. (TUP) & Encourages Investors...
March 18 2020 - 6:42PM
Business Wire
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20200318005790/en/
D. Seamus Kaskela, Esq. KASKELA LAW LLC 18 Campus
Boulevard, Suite 100 Newtown Square, PA 19073 (484) 258 – 1585
(888) 715 – 1740 www.kaskelalaw.com skaskela@kaskelalaw.com
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