Tupperware Says In Talks With SEC To Settle Accounting Inquiry Relating To Prior Mexico Businesses

(RTTNews) - Consumer products company Tupperware Brands Corp. (TUP) revealed in a Form 8-K filing with the U.S. Securities and Exchange Commission or SEC on Wednesday that it is fully cooperating with the SEC in previously disclosed inquiry being conducted by the regulator into the Company's accounting practices relating to its previously-owned Fuller Mexico business and its Tupperware Mexico business.

Providing an update, the Company said it has commenced discussions with the SEC regarding a possible settlement of this matter.

Meanwhile, the Company noted that it plans to recognize an estimated liability for this matter within its condensed consolidated balance sheet as of June 25, 2022 in an amount the Company believes is immaterial to its business, financial condition, results of operations and cash flows.

The Company believes that any potential settlement will be related to conduct in its Fuller Mexico business, which the Company sold to an unaffiliated third party during the second quarter of 2022.