Bragar Eagle & Squire, PC Reminds Investors Class Action Lawsuits…

Bragar Eagle & Squire, PC Reminds Investors Class Action Lawsuits…

Facebook
Twitter
LinkedIn

NEW YORK, July 31, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is reminding investors that class action lawsuits have been filed on behalf of shareholders of Tupperware Brands Corporation TUPPUnilever PLC ULYext, Inc. YEXTand Inotiv, Inc. NOTV. Shareholders have until the deadlines below to petition the court to be lead plaintiff. For more information on each case, see the link provided.

Tupperware Brands Corporation TUPP

Class Period: November 3, 2021 – May 3, 2022

Lead Plaintiff Deadline: August 15, 2022

On May 4, 2022, Tupperware announced its financial results for the first quarter of 2022. Among other things, Tupperware reported adjusted earnings per share from continuing operations and net sales that fell well short of consensus estimates, and 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, at the urging of analysts on a conference call, the company admitted that Russia and Ukraine accounted for just 2% of its sales.

As a result of 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.

The Complaint alleges that the Defendants made materially false and misleading statements regarding the Company’s business, operations and compliance policies throughout the Class Period. In particular, the Defendants made false and/or misleading statements and/or failed to disclose that: (i) Tupperware faced significant challenges in maintaining its revenue and sales performance; (ii) accordingly, Tupperware’s guidance for the full year 2022 was unrealistic and/or unsustainable; (iii) all of this, once known, would be likely to have a material adverse effect on Tupperware’s financial condition; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.

More information about…



Source story

More to explorer