Tupperware $22 Million Investor Settlement Stumbles Court Step

Tupperware Brands Corp. investors’ nearly $22 million settlement failed to garner a federal court’s initial assent to resolve allegations the fallen food storage container maker issued lofty financial projections before reporting disappointing results in 2022.

The motion for preliminary approval didn’t discuss the plaintiffs’ standing for the court to address merits of class certification, Magistrate Judge Leslie Hoffman Price said, returning the accord for revision. And within the agreement, the plaintiffs switched up whether the settling defendants included the company or just former CEO Miguel Fernandez and former chief financial officer Cassandra Harris, which was confusing in light of Tupperware’s ...