NEW YORK, Aug. 23, 2022 (GLOBE NEWSWIRE) -- Moore Kuehn, PLLC, a securities law firm located on Wall Street, is investigating whether certain officers and directors of Tupperware Brands Corporation (: TUP) breached their fiduciary duties to shareholders.
According to a federal securities lawsuit, Tupperware insiders caused the company to make false and/or misleading statements and/or failed to disclose that: (i) Tupperware was facing significant challenges in maintaining its earnings and sales performance; (ii) accordingly, Tupperware’s full year 2022 guidance was unrealistic and/or unsustainable; (iii) all the foregoing, once revealed, was likely to have a material negative impact on Tupperware’s financial condition; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
On May 4, 2022, Tupperware announced its financial results far below estimates for the first quarter of 2022. 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. On this news, Tupperware’s stock price fell $5.76 per share, or 32.16%, to close at $12.15 per share on May 4, 2022.
If you own TUP please contact Justin Kuehn, Esq. by email at [email protected] or telephone at (212) 709-8245. There is no cost to you. Moore Kuehn is a New York-based law firm with attorneys representing investors and consumers. Please visit http://www.moorekuehn.com/practice/new-york-shareholder-derivative-litigation/
Attorney advertising. Prior results do not guarantee similar outcomes.
Moore Kuehn, PLLC
Justin Kuehn, Esq.
30 Wall Street, 8th Floor
New York, New York 10005
[email protected]
(212) 709-8245
