NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Tupperware Brands Corporation (NYSE: TUP) resulting from allegations that Tupperware may have issued materially misleading business information to the investing public.
On February 24, 2020, post-market, Tupperware issued a press release announcing it will be unable to timely file its annual report for the fiscal year ended December 28, 2019. Tupperware also announced 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 over 20% pre-market per share on February 25, 2020.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Tupperware investors. If you purchased shares of Tupperware please visit the firm’s website at http://www.rosenlegal.com/cases-register-1787.html to join the class action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
Attorney Advertising. Prior results do not guarantee a similar outcome.