TUP Alert: Johnson Fistel Launches Investigation into Tupperware Brands Following Accounting Probe; Investors Encouraged to Contact Firm

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Feb 25, 2020, 09:11 ET

SAN DIEGO, Feb. 25, 2020 /PRNewswire/ -- Shareholder Rights Law Firm Johnson Fistel, LLP is investigating potential violations of the federal securities laws by Tupperware Brands Corporation (NYSE: TUP) ("Tupperware") and its officers and directors.

On February 24, 2020, Tupperware announced it was conducting an investigation in its financial accounting and warned of a 2019 profit shortfall. The Company said 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, which is below consensus estimates of $2.79. Tupperware is investigating the accounting for accounts payable and accrued liabilities and estimates that the total pre-tax impact for 2019 to be about $50 million to $52 million. As a result of the investigation, the Company would not be filing Form 10-K for the fiscal year ended December 28, 2019, on a timely basis.

Following this news, Tupperware's shares plummeted over 20% in pre-market trading on February 25, 2020.

If you have information that could assist in this investigation, including past employees and others, or if you are a Tupperware shareholder and are interested in learning more about the investigation, please contact Jim Baker ([email protected]) by email or phone at 619-814-4471. If emailing, please include a phone number.

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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]

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SOURCE Johnson Fistel, LLP