Tupperware Hit With Investor Suit on Earnings, Sales Issues (1)

Tupperware Brands Corp. failed to tell investors it was facing significant earnings and sales performance maintenance challenges, a new suit alleges in federal court in New York.

The direct sales company, known for its food storage products, issued unrealistic or unsustainable financial guidance for 2022 as a result of the challenges, according to a would-be class complaint filed in the US District Court for the Southern District of New York.

Tupperware in 2021 touted its turnaround plan and discussed its optimism for the future. But the company in May 2022 issued a press release acknowledging the turnaround needs more work, ...