Tupperware Brands Corporation
|Company Name||Tupperware Brands Corporation|
On March 1, 2023, Tupperware issued a press release disclosing that it “identified misstatements which originated in prior annual and unaudited interim periods” and that “there is the possibility that additional current and prior period misstatements could be identified.” The Company further disclosed that it “did not design and maintain effective internal controls related to the accounting for the completeness, occurrence, accuracy, and presentation of the income tax provision and related income tax assets and liabilities.”
On this news, Tupperware’s stock price fell $0.61, or nearly 15%, to close at $3.49 per share on March 1, 2023, thereby injuring investors.
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