The Securities and Exchange Commission (SEC) announced today that it has filed
a civil enforcement action against former Green Mountain Coffee Roasters, Inc.
(GMCR) GMCR employee Chad McGinnis, and others outside the Company,
alleging insider trading in the stock of GMCR. GMCR was recently advised of
the government's investigation into Mr. McGinnis' activity and is cooperating
fully with the government's investigation. Mr. McGinnis was a manager-level
member of the Company's IT department and has been terminated for violations
of the Company's insider trading policy. There has been no allegation of
wrongdoing on behalf of the Company.
“We are appalled at the alleged actions of this individual,” said Brian P.
Kelley, GMCR's President and CEO. “All indications are that this case involves
an irresponsible individual acting alone and we have no reason to believe
anyone else associated with the Company was involved. GMCR requires all
employees and Directors to adhere to our code of ethics and our insider
trading policy. The alleged conduct of this individual is in violation of
these policies, and goes against our culture, our values and everything the
employees of GMCR stand for.”
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