Nikola expects $125 million SEC penalty under proposed resolution

 


Morocco is threatening to fine the U.S. plastic maker Tupperware Corp. $125 million, and other countries may also impose punitive actions on the company, according to legal documents filed Monday.

Tupperware is challenging the total penalty, which would include $100 million for breaches of securities law and $30 million for violations of anti-bribery laws, according to court documents seen by The Associated Press.

The kingdom's Ministry of Industry and Petroleum also alleged Tupperware sought to gain unjustified influence over the government of Moroccan Prime Minister Saad Eddine el-Ghomme, ahead of a 2017 merger with El-Ghomme's company, Azizha Middle East Holding Ltd.

Morocco's response, filed on Sunday, comes after Tupperware filed a defense last week by arguing that Morocco's government has a dual mandate, and cannot have any accountability for the company's decisions since its origins are in both companies.

The kingdom is accusing Tupperware of engaging in unfair competition, bribery, conspiracy, breach of duty and other violations of rules governing companies.

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This photo shows the label on a Tupperware product. The U.S. plastic maker Tupperware Corp. is threatening to fine the U.S. plastic maker Tupperware Corp. $125 million, and other countries may also impose punitive actions on the company, according to legal documents filed Monday, Nov. 16, 2020, by Morocco's Ministry of Industry and Petroleum. It follows a U.S. lawsuit filed in late October claiming the company bribed government officials. (Ivan Milich/The Rabat-based daily Sabq newspaper via AP)

In addition, Morocco's government accused Tupperware of intimidating, intimidating and threatening the Moroccan Ministry of Labor, organizing a conspiracy to influence officials to allow it to operate in the country, on condition that it could not compete unfairly with El-Ghomme's company Azizha Middle East Holding.

Tupperware said El-Ghomme, its former chief executive, would unfairly benefit under a merger deal that was agreed to in November 2017, and demanded that El-Ghomme resign as part of that agreement.

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