GPM Announces Expanded Class Period in the Securities Class Action That It Has Filed on Behalf of Keurig Green Mountain, Inc....
August 14 2015 - 5:11PM
Business Wire
Glancy Prongay & Murray LLP (“GPM”) announces that it has
filed a class action on behalf of investors of Keurig Green
Mountain, Inc. (“Keurig” or the “Company”) (NASDAQ:GMCR) who
purchased securities between November 19, 2014 and August 5, 2015
and have been damaged by the recent declines in the Company’s
securities price. Keurig investors have until August 18,
2015 to file a lead plaintiff motion.
Keurig develops and sells a variety of coffeemakers (Keurig
brewers), and produces and sells specialty coffee and other
specialty beverages in pods (including hot apple cider, hot and
iced teas, iced coffees, iced fruit brews, hot cocoa and other
beverages) for use with its Keurig hot brewing systems.
The complaint alleges that Keurig and certain of its executives
failed to disclose material information to investors in violation
of federal securities laws. The alleged false statements and
omissions include, but are not limited to: (1) that the Company’s
Keurig 2.0 brewing system was an unnecessary upgrade and created
customer confusion; (2) that, as a result, the Company’s sales
projections were unrealistic and unattainable; (3) that the full
retail distribution of Company’s new cold brewing system, Keurig
KOLD, would be delayed until 2016; (4) that, as a result, the
Company’s revenues for 2015 would be below expectations; and (5)
that, as a result of the foregoing, Defendants’ statements about
Keurig’s business, operations, and prospects, were false and
misleading and/or lacked a reasonable basis.
Over the course of three disclosures, the Company revealed that
its Keurig 2.0 system was not being adopted by consumers as
originally communicated to investors, sales of the KOLD system were
delayed, and that the Company’s sales and projections were
allegedly misleading and unattainable. On this news, the price of
Keurig’ securities, including common stock, plummeted thereby
damaging investors.
If you purchased Keurig securities between November 19, 2014
and August 5, 2015 and suffered a loss of over $200,000 you are
encouraged to contact Casey Sadler of GPM to discuss your legal
rights 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20150814005682/en/
Glancy Prongay & Murray, Los AngelesCasey Sadler,
310-201-9150 or
888-773-9224shareholders@glancylaw.comwww.glancylaw.com
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