Tupperware To Resolve SEC Investigation On Certain Accounting Practices Of Divested Entity

(RTTNews) - Tupperware Brands Corp. (TUP) said that it has reached a settlement with the U.S. Securities and Exchange Commission to fully resolve its inquiry related to certain accounting practices of the now divested House of Fuller beauty business in Mexico from 2016 through the first quarter of 2020.

As per 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.

Tupperware closed on the sale of the House of Fuller beauty business in Mexico in the second quarter of 2022.