BOSTON, Feb. 26, 2020 (GLOBE NEWSWIRE) -- Block & Leviton (www.blockesq.com), a law firm dedicated to protecting investor rights nationwide, announces that Tupperware Brands Corporation (NYSE: TUP) has been sued for securities fraud in the U.S. Central District of California. Investors who have suffered losses are encouraged to contact the firm.
The complaint, captioned Bertrim v. Tupperware Brands Corporation et. al., No. 2:20-cv-1798 (C.D. Cal), alleges that Tupperware misrepresented and failed to disclose that the company lacked effective internal controls and, consequently, the company did not properly account for its accounts payable and accrued liabilities at its Fuller Mexico beauty business.
The truth emerged on February 24, 2020, when Tupperware issued a press release announcing a delay in filing its Form 10-K for the fiscal year ended December 28, 2019. This delay was due to the need to “finalize additional procedures as part of its investigation regarding the impact of certain financial reporting matters in its Fuller Mexico beauty business." The Company said it was “investigating primarily into the accounting for accounts payable and accrued liabilities at its Fuller Mexico beauty business[.]” Following this news, Tupperware's shares dropped more than 45%.
If you wish to serve as lead plaintiff in this matter, you must move the Court no later than April 27, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
If you purchased or otherwise acquired Tupperware securities between January 30, 2019 and February 24, 2020 (the “Class Period”) and have questions about your legal rights, or possess information relevant to this matter, you are encouraged to contact attorney Mark Delaney at (617) 398-5600, by email at mdelaney@blockesq.com, or by visiting https://shareholder.law/tupperware. Confidentiality for whistleblowers is assured.
Block & Leviton LLP is a firm dedicated to representing investor and maintaining the integrity of the country’s financial markets. The firm represents both many of the nation's largest institutional investors and individual investors in securities litigation throughout the United States. Its lawyers have recovered billions of dollars for its clients.
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CONTACT:
BLOCK & LEVITON LLP
Mark Delaney
(617) 398-5600 phone
260 Franklin Street, Suite 1860
Boston, MA 02110
mark@blockesq.com