Tupperware $22 Million Investor Settlement Gets First Court Nod

Tupperware Brands Corp. investors’ nearly $22 million settlement earned a federal court’s initial assent to resolve claims the container maker misrepresented its profitability turnaround before reporting disappointing results in 2022.

The settlement preliminarily approved by Magistrate Judge Leslie Hoffman Price on Sept. 5 is between investors and former executives Miguel Fernandez and Cassandra Harris. Tupperware had been stayed from this action after it filed for bankruptcy last year. The US District Court for the Middle District of Florida magistrate judge previously denied the investors’ request for preliminary approval, requiring them to fix issues on seeking settlement class certification and defining ...