Investor Alert: Tupperware Brands Corporation Lead Plaintiff Deadline Is April 27, 2020
NEW YORK, April 8, 2020 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Tupperware Brands Corporation ("Tupperware" or the "Company") (NYSE: TUP). Proposed class actions have been filed on behalf of investors who purchased Tupperware securities during the period January 30, 2019 and February 24, 2020.
On February 24, 2020, after the market closed, Tupperware issued a press release announcing a delay in filing its Form 10-K for the fiscal year ended December 28, 2019 and that "the extension will provide the Company time to finalize additional procedures as part of its investigation regarding the impact of certain financial reporting matters in its Fuller Mexico beauty business." Further, the press release states:
"The Company is 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. This matter is $9-11 million of the total expected $19-21 million full-year impact on an adjusted pre-tax basis. In addition, total impairments for Fuller Mexico are expected to be approximately $31 million. The total pre-tax impact for 2019 is approximately $50-52 million."
On this news, the Company's stock price fell $2.61 per share, or 45.63%, to close at $3.11 per share on February 25, 2020.
If you purchased Tupperware securities, you may move the court no later than April 27, 2020 to serve as a lead plaintiff for the purported class. You need not seek to become a lead plaintiff in order to share in any possible recovery. If you would like to discuss the complaint or our investigation, please contact us by emailing [email protected] or by calling 212-329-8571.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this investigation, your rights, or your interests, please contact:
Jeffrey P. Campisi
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(212) 329-8571
E-mail: [email protected]
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
E-mail: [email protected]
SOURCE Kaplan Fox & Kilsheimer LLP
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