{"id":690583,"date":"2022-09-29T19:01:14","date_gmt":"2022-09-29T23:01:14","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/tupperware-announces-settlement-of-sec-investigation-for-now-divested-entity\/"},"modified":"2022-09-29T19:01:14","modified_gmt":"2022-09-29T23:01:14","slug":"tupperware-announces-settlement-of-sec-investigation-for-now-divested-entity","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/tupperware-announces-settlement-of-sec-investigation-for-now-divested-entity\/","title":{"rendered":"Tupperware Announces Settlement of SEC Investigation for Now Divested Entity"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n
\n ORLANDO, Fla.<\/span>
\n <\/span>, Sept. 29, 2022<\/span><\/span> \/PRNewswire\/ — Tupperware Brands Corporation (NYSE: TUP), a leading global consumer products company, today announces that it has reached a settlement with the U.S. Securities and Exchange Commission (SEC) to fully resolve resolve its inquiry\u00a0related to certain accounting practices of the now divested House of Fuller beauty business in Mexico<\/span> from 2016 through the first quarter of 2020. Under terms of the settlement, Tupperware neither admits nor denies the SEC’s findings and will pay an immaterial civil penalty, which was fully accrued in the second quarter of 2022.<\/p>\n

\n

\n
\n \"Tupperware
\n <\/a>\n <\/p>\n<\/p><\/div>\n

“One of our core principles at Tupperware is that we do what’s right. When we first discovered certain accounting issues in our now divested beauty business in Mexico<\/span>, we took swift action to conduct a thorough internal review and proactively address the findings to improve our processes, procedures and internal control framework in this former business,”\u00a0said Miguel Fernandez<\/span>, CEO of Tupperware. “We are pleased to put this issue to rest and focus on moving the Tupperware brand into the future.”<\/p>\n

Tupperware closed on the sale of the House of Fuller beauty business in Mexico<\/span> in the second quarter of 2022 as part of its stated strategy of divesting non-core assets and focusing its resources on growing the core Tupperware brand. \u00a0<\/p>\n

\n About Tupperware Brands Corporation
<\/b>Tupperware Brands Corporation (NYSE:\u00a0TUP) is a leading global consumer products company that designs innovative, functional and environmentally responsible products that people love and trust. Founded in 1946, Tupperware’s signature container created the modern food storage category that revolutionized the way the world stores, serves and prepares food. Today, this iconic brand has more than 8,500 functional design and utility patents for solution-oriented kitchen and home products. With a purpose to nurture a better future, Tupperware\u00ae products are an alternative to single-use items. The company distributes its products into nearly 70 countries primarily through independent representatives around the world. For more information, visit Tupperwarebrands.com<\/a> or follow Tupperware on\u00a0Facebook<\/a><\/u>,\u00a0Instagram<\/a><\/u>,\u00a0LinkedIn<\/a><\/u>\u00a0and\u00a0Twitter<\/a><\/u>.<\/p>\n

\n Investors: <\/b>
\n Doug Lane<\/span>, douglaslane@tupperware.com<\/a><\/p>\n

\n Media: <\/b>
\n Cameron Klaus<\/span>, cameronklaus@tupperware.com<\/a><\/u>, (407) 371-9784<\/p>\n

<\/div>\n

\n \"Cision\" View original content to download multimedia:https:\/\/www.prnewswire.com\/news-releases\/tupperware-announces-settlement-of-sec-investigation-for-now-divested-entity-301637390.html<\/a><\/p>\n

SOURCE Tupperware Brands Corporation<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire ORLANDO, Fla. , Sept. 29, 2022 \/PRNewswire\/ — Tupperware Brands Corporation (NYSE: TUP), a leading global consumer products company, today announces that it has reached a settlement with the U.S. Securities and Exchange Commission (SEC) to fully resolve resolve its inquiry\u00a0related to certain accounting practices of the now divested House of Fuller beauty business in Mexico from 2016 through the first quarter of 2020. Under terms of the settlement, Tupperware neither admits nor denies the SEC’s findings and will pay an immaterial civil penalty, which was fully accrued in the second quarter of 2022. “One of our core principles at Tupperware is that we do what’s right. When we first discovered certain accounting issues in our now divested … <\/p>\n

Continue reading “Tupperware Announces Settlement of SEC Investigation for Now Divested Entity”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-690583","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nTupperware Announces Settlement of SEC Investigation for Now Divested Entity - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/tupperware-announces-settlement-of-sec-investigation-for-now-divested-entity\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tupperware Announces Settlement of SEC Investigation for Now Divested Entity - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire ORLANDO, Fla. , Sept. 29, 2022 \/PRNewswire\/ — Tupperware Brands Corporation (NYSE: TUP), a leading global consumer products company, today announces that it has reached a settlement with the U.S. Securities and Exchange Commission (SEC) to fully resolve resolve its inquiry\u00a0related to certain accounting practices of the now divested House of Fuller beauty business in Mexico from 2016 through the first quarter of 2020. 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