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Shareholder Alert: Robbins LLP Is Investigating the Officers and Directors of Tupperware Brands Corporation (TUP) on Behalf of Shareholders

February 27, 2020 GMT

SAN DIEGO & ORLANDO, Fla.--(BUSINESS WIRE)--Feb 27, 2020--

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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20200227005847/en/

CONTACT: 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

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES

SOURCE: Robbins LLP

Copyright Business Wire 2020.

PUB: 02/27/2020 01:11 PM/DISC: 02/27/2020 01:11 PM

http://www.businesswire.com/news/home/20200227005847/en