Tupperware: Court’s Scienter Standard Hampers Promotion Of Transparency

Mealey's (June 17, 2022, 9:21 AM EDT) -- ATLANTA — A federal district court’s use of the wrong standard in determining that a lead plaintiff failed to sufficiently plead scienter in alleging that Tupperware Brands Corp. and certain of its current and former senior executives violated federal securities law by misrepresenting the company’s financial results was erroneous because the ruling “implicates the viability of the securities laws’ promotion of transparency,” the lead plaintiff argues in a June 1 reply brief filed in the 11th Circuit U.S. Court of Appeals....