Lieff Cabraser Announces Class Action Lawsuits Against Monster Beverage Corporation
The law firm of Lieff Cabraser Heimann & Bernstein, LLP announces that class action lawsuits have been brought on behalf of all persons who purchased the securities of Monster Beverage Corporation (“Monster” or the “Company”) (NASDAQ: MNST) between February 23, 2012 and August 9, 2012, inclusive (the “Class Period”).
If you purchased Monster securities during the Class Period, you may move the Court for appointment as lead plaintiff by no later than October 22, 2012. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the action will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.
Monster shareholders who wish to learn more about the action and how to seek appointment as lead plaintiff, or individuals with information pertaining to the investigation, should click here or contact Sharon Lee of Lieff Cabraser toll-free at 1 (800) 541-7358.
The actions are brought against Monster and certain of its officers for violations of the Securities Exchange Act of 1934. Monster markets and distributes energy drinks, fruit juices, smoothies, juice cocktails, iced teas, lemonades, and still water.
The complaints allege that, throughout the Class Period, defendants made materially false and misleading statements regarding Monster's business, operational and compliance policies. In particular, Defendants misrepresented and failed to disclose that the Company was improperly advertising, marketing and promoting its Monster Energy(R) brand of energy drinks and that, as a result of the above, Monster's financial statements were materially false and misleading at all relevant times.
On August 8, 2012, after the market closed, the Company disclosed financial results that failed to meet analysts' expectations. On this news, Monster stock dropped $6.57 per share, or nearly 10%, to close at $61.20 per share on the following day.
On August 9, 2012, after the market closed, the Company disclosed that it had “received a subpoena from a state attorney general in connection with an investigation concerning the Company's advertising, marketing, promotion, ingredients, usage and sale of its Monster Energy(R) brand of energy drinks.” On this news, Monster stock dropped an additional $6.93 per share, or nearly 11%, to close at $54.27 per share on August 10, 2012.
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York and Nashville, is a nationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility.
Since 2003, the National Law Journal has selected Lieff Cabraser as one of the top plaintiffs' law firms in the nation. In compiling the list, the National Law Journal examined recent verdicts and settlements in addition to overall track records. Lieff Cabraser is one of only two plaintiffs' law firms in the United States to receive this honor for the last nine consecutive years.
For more information about Lieff Cabraser and the firm's representation of investors, please visit http://www.lieffcabraser.com.
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Source/Contact for Media Inquiries Only:
Lieff Cabraser Heimann & Bernstein, LLP
Sharon M. Lee, 800-541-7358