Glancy Binkow & Goldberg LLP Announces Class Action Lawsuit Against Monster Beverage Corporation
Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court for the Southern District of California on behalf of a class (the “Class”) comprising all purchasers of the securities of Monster Beverage Corporation (“Monster Beverage” or the “Company”) (NASDAQ: MNST) between February 23, 2012 and August 9, 2012 (the “Class Period”).
Monster Beverage, through its subsidiaries, develops, markets, sells and distributes alternative-beverage category beverages in the United States and internationally. The Complaint alleges that the Company and certain of its executive officers issued false and/or misleading statements and/or failed to disclose material adverse facts concerning the Company's business and operations. Specifically, the Complaint alleges that the Company and certain of its executive officers misrepresented or failed to disclose that: (1) the Company was improperly advertising, marketing and promoting its Monster Energy(R) brand drinks; and (2), as a result, the Company's financial statements were materially false and misleading at all relevant times.
On August 8, 2012, after the market closed, Monster Beverage announced disappointing financial results, which failed to meet analysts' expectations. Following this news, the price of Monster Beverage stock declined $6.57, or nearly 10%, to close at $61.20 per share on August 9, 2012.
If you are a member of the above-described Class, you have certain rights, and have until October 22, 2012 to move for lead plaintiff status. To be a member of the class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent class member. To learn more, or if you have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, by telephone at (310) 201-9150, Toll Free at (888) 773-9224, by e-mail to firstname.lastname@example.org or visit our website at http://www.glancylaw.com.
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