(TUP) INVESTOR ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Tupperware Brands Corporation and Encourages Investors with Losses to Contact the Firm
NEW YORK, Feb. 26, 2020 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Tupperware Brands Corporation ("Tupperware" or the "Company") (NYSE: TUP). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/tup.
The investigation concerns whether Tupperware and certain of its officers and/or directors have violated federal securities laws.
On February 24, 2020, post-market, Tupperware issued a press release announcing that the Company will 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 ("EPS") "in the range of breakeven to $0.34 versus $3.11 in the prior year[,]" and adjusted EPS of $1.35 to $1.70. Tupperware stated that its financial results were affected by "financial reporting issues" concerning the Company's Fuller Mexico beauty brand and that the Company is "conducting an investigation primarily into the accounting for accounts payable and accrued liabilities" at Fuller Mexico. Additionally, Tupperware announced that it "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 sharply during intraday trading on February 25, 2020.
If you are aware of any facts relating to this investigation, or purchased Tupperware shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/tup. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE Bronstein, Gewirtz & Grossman, LLC
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