A lawsuit was filed on behalf of investors in Tupperware Brands Corporation (NYSE:TUP) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 06/28/2022 -- An investor, who purchased shares of Tupperware Brands Corporation (NYSE: TUP), filed a lawsuit over alleged violations of Federal Securities Laws by Tupperware Brands Corporation.
Investors who purchased shares of Tupperware Brands Corporation (NYSE: TUP) have certain options and for certain investors are short and strict deadlines running. Deadline: August 15, 2022. NYSE: TUP investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
Orlando, FL based Tupperware Brands Corporation operates as a consumer products company worldwide. On May 4, 2022, Tupperware Brands Corporation announced its financial results for the first quarter of 2022. Among other items, Tupperware Brands Corporation reported adjusted EPS from continuing operations and net sales that fell well short of consensus estimates. Tupperware Brands Corporation also withdrew its full year 2022 guidance and named a new Chief Financial Officer. The Company attributed the poor performance to the conflict in Russia and Ukraine. However, when pressed by analysts on a conference call, the Company acknowledged that Russia and Ukraine only accounted for 2% of its revenue.
Shares of Tupperware Brands Corporation (NYSE: TUP) declined from $26.10 per share on June 8, 2021, to as low as $5.54 per share on May 24, 2022.
The plaintiff claims that between November 3, 2021 and May 3, 2022, the Defendants made false and/or misleading statements and/or failed to disclose that Tupperware was facing significant challenges in maintaining its earnings and sales performance, that accordingly, Tupperware's full year 2022 guidance was unrealistic and/or unsustainable, that all the foregoing, once revealed, was likely to have a material negative impact on Tupperware's financial condition, and that as a result, the Company's public statements.
Those who purchased shares of Tupperware Brands Corporation (NYSE: TUP) have certain options and should contact the Shareholders Foundation.
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