Tupperware Executives Under Investigation for Fraudulent Sales Scheme

Schubert Jonckheer & Kolbe LLP is investigating potential derivative claims on behalf of shareholders of Tupperware Brands Corporation (NYSE: TUP) related to the company’s alleged participation in a fraudulent sales scheme at its Fuller Mexico operating unit.

Investors allege that between January 31, 2018 and February 24, 2020, Tupperware misled them regarding the financial health of its Fuller Mexico business which, but for a fraudulent scheme of booking revenues from fake sales, would have required approximately $40 million in impairments to goodwill and intangible assets much sooner than were eventually recorded. Tupperware’s share price plummeted when it finally revealed the truth and recorded the necessary impairments.

A securities class action, including claims by former employees who allege knowledge and participation by senior Tupperware executives, is currently pending against the company in the U.S. District Court for the Middle District of Florida.

We are investigating shareholder derivative claims based on the harm the company has suffered as a result of these potential breaches of fiduciary duty by Tupperware’s officers and directors.

If you wish to obtain additional information about shareholder claims and your legal rights, please complete the form below for a free legal consultation.