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Press release content from Business Wire. The AP news staff was not involved in its creation.

INVESTOR ALERT: Kirby McInerney LLP Announces an Investigation of Shareholder Claims Against Tupperware Brands Corporation

February 25, 2020 GMT

NEW YORK--(BUSINESS WIRE)--Feb 25, 2020--

The law firm of Kirby McInerney LLP is investigating potential claims against Tupperware Brands Corporation (“Tupperware” or the “Company”) (NYSE: TUP ). This investigation concerns whether Tupperware has violated federal securities laws and/or engaged in other unlawful business practices.

On February 24, 2020, Tupperware announced that it would be unable to timely file its annual report for the fiscal year ended December 28, 2019. Tupperware also announced that 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. The Company said results were affected by “financial reporting issues” with Fuller Mexico and that Tupperware is “conducting an investigation primarily into the accounting for accounts payable and accrued liabilities at its Fuller Mexico beauty business[.]” Additionally, “the Company is forecasting a need for relief concerning its existing leverage ratio covenant in its $650 million Credit Agreement dated March 29, 2019, to avoid a potential acceleration of the debt, which could have a material adverse impact on the Company.”

On this news, Tupperware’s stock price fell $2.61, or 45.6%, to close at $3.11 per share on February 25, 2020.

If you acquired Tupperware securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, and whistleblower litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: www.kmllp.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com:https://www.businesswire.com/news/home/20200225006064/en/

CONTACT: Kirby McInerney LLP

Thomas W. Elrod, Esq.

(212) 371-6600





SOURCE: Kirby McInerney LLP

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PUB: 02/25/2020 04:31 PM/DISC: 02/25/2020 04:31 PM