NEW ORLEANS–(BUSINESS WIRE)–Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until April 27, 2020 to file lead plaintiff applications in a securities class action lawsuit against Tupperware Brands Corporation (NYSE: TUP), if they purchased the Company’s securities between January 30, 2019 through February 24, 2020, inclusive (the “Class Period”). This action is pending in the United States District Court for the Central District of California.
What You May Do
If you purchased securities of Tupperware and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-tup/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by April 27, 2020.
About the Lawsuit
Tupperware and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On February 24, 2020, the Company disclosed that its 10-K report would not be filed timely due to an ongoing investigation into accounts payable and accrued liabilities at its Fuller Mexico beauty business resulting in an expected full-year 2019 negative impact on an adjusted pre-tax basis in the range of $19-21 million, expected total impairments of approximately $31 million, and total pretax impact for 2019 of approximately $50-52 million, among other negative effects.
On this news, the price of Tupperware’s shares plummeted over 45%, to close at $3.11 per share on February 25, 2020.
The case is Bertrim v. Tupperware Brands Corporation, et al, 20cv1798.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner