NEW YORK–(BUSINESS WIRE)–Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is investigating potential claims against Tupperware Brands Corporation (“Tupperware” or the “Company”) (NYSE:TUP) on behalf of Tupperware shareholders. Our investigation focuses on whether Tupperware violated federal securities laws and/or engaged in other illegal business practices.
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On May 4, 2022, the company reported lackluster operating results, well below estimates: Adjusted EPS from continuing operations 12 cents, estimate 53 cents; and net sales of $348.1 million, estimated at $362.5 million. Additionally, the company withdrew its full-year 2022 guidance and appointed a new chief financial officer. The Company attributed the poor performance to the conflict in Russia and Ukraine. Interestingly, when pressed by analysts on a conference call, the company admitted that Russia and Ukraine only account for 2% of its revenue.
On this news, the price of Tupperware shares fell $5.76 per share, or approximately 32.16%, from $17.91 per share to close at $12.15 per share on May 4, 2022.
If you have purchased or otherwise acquired Tupperware stock and suffered a loss, are a long-term shareholder, have information, want to know more about such claims, or have questions about this announcement or your rights or interests in these questions, please contact Brandon Walker or Melissa Fortunato by email at [email protected], by phone at (212) 355-4648, or by by filling out this contact form. There is no cost or obligation for you.