Investigation of Keurig Green Mountain, Inc. Announced by Glancy Prongay & Murray LLP
May 14 2015 - 10:09PM
Business Wire
Glancy Prongay & Murray LLP announces that it is
investigating potential claims on behalf of investors of Keurig
Green Mountain, Inc. (“Keurig” or the “Company”) (NASDAQ: GMCR)
concerning the Company’s recent disclosures regarding slowdowns in
the sale of the Company’s Keurig 2.0 brewer; as well as the
announcement that the Company would delay the launch of its newest
product offering the Keurig Kold brewer.
On May 7, 2015, the Company announced revenues and earnings that
fell below analysts’ expectations; projected flat to low-single
digit year-over-year net sales growth, compared to its previous
guidance of mid-to high-single digit growth; and also reduced its
free cash flow range to $120 million to $170 million, down from an
expected range of $225 million to $325 million. Keurig blamed its
poor performance on confusion about pod compatibility with the
Keurig 2.0 brewer, and on issues with partnerships in its K-cup
brand coffee and tea offerings.
On this news the Company’s shares fell $9.92 per share, or 9%,
to close on May 7, 2015 at $98.16 on volume of nearly 10 million
shares.
Then, on May 14, 2015, after the market closed, the Company
announced that it would delay the retail sale of the Company’s new
cold brewing system, the Keurig Kold until the 2016 holiday season.
On this news, the Company’s shares fell sharply in after-hours
trading.
If you purchased Keurig shares or other securities prior to May
15, 2015, have information or would like to learn more about these
claims, or have any questions concerning this announcement or your
rights or interests with respect to these matters, please contact
Lesley Portnoy, of Glancy Prongay & Murray LLP, 1925 Century
Park East, Suite 2100, Los Angeles, California 90067 at
310-201-9150, Toll-Free at 888-773-9224, by email to
shareholders@glancylaw.com, or visit our website at
http://www.glancylaw.com. If you inquire by email please include
your mailing address, telephone number and number of shares
purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
Glancy Prongay & Murray LLP, Los AngelesLesley Portnoy,
310-201-9150 or
888-773-9224shareholders@glancylaw.comwww.glancylaw.com
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