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Green Mountain Coffee Roasters, Inc. Summary: According to the law firm press release, the complaint charges GMCR and certain of its officers and directors with violations of the Securities Exchange Act of 1934. GMCR describes itself as a leader in the specialty coffee and coffee maker businesses.
The complaint alleges that, during the Class Period, defendants issued materially false and misleading statements regarding the Company’s growth and demand for its products. Specifically, defendants misrepresented and/or failed to disclose the following adverse facts: (i) that demand for the Company’s brewers and portion packs had slowed; (ii) that the Company’s models for predicting consumer demand were flawed and ineffective; and (iii) as a result of the foregoing, Defendants lacked a reasonable basis for their positive statements about the Company and its prospects.
On May 2, 2012, after the close of regular market trading, GMCR issued a press release announcing its financial performance for the second quarter of fiscal 2012, which fell short of its prior guidance and also revised downward the Company’s guidance for the full fiscal year 2012. Following this announcement, on the next day of trading, May 3, 2012, shares of GMCR stock basically halved themselves – tumbling $23.65 per share, or 48%, to close at $25.87 per share from the prior day’s close of $49.52 per share.
On July 31, 2012, the plaintiffs’ motion to appoint lead plaintiff as class representative, and appoint class counsel was granted.
INDUSTRY CLASSIFICATION:
SIC Code: 2090
Sector: Consumer Non-Cyclical
Industry: Food Processing
| COMPANY/ISSUER NAME: | Green Mountain Coffee Roasters, Inc. |
| COMPANY/ISSUER TICKER: | GMCR |
| COMPANY WEBSITE: | http://www.greenmountaincoffee.com |
| FIRST IDENTIFIED COMPLAINT IN THE DATABASE | |||||||||||||||||
| Steve Fifield, et al. v. Green Mountain Coffee Roasters, Inc., et al. | |||||||||||||||||
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| DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT | |||
| Complaint for Violation of the Federal Securities Laws | |||
| Type: Complaint | Date on the document: 05/07/2012 | ||
| U.S. District Court Civil Docket | |||
| Type: Docket | Date on the document: 05/07/2012 | ||
| Motion of Kambiz Golesorkhi to be Appointed Lead Plaintiff and to Approve Proposed Lead Plaintiff’s Choice of Counsel | |||
| Type: Motion | Date on the document: 07/06/2012 | ||
| U.S. District Court Civil Docket | |||
| Type: Docket | Date on the document: 07/31/2012 | ||
| REFERENCE COMPLAINT | |||||||||||||||||
| Steve Fifield, et al. v. Green Mountain Coffee Roasters, Inc., et al. | |||||||||||||||||
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| DOCUMENTS FOR THE REFERENCE COMPLAINT | |||
| Amended Complaint for Violation of the Federal Securities Laws | |||
| Type: Complaint | Date on the document: 10/25/2012 | ||
| U.S. District Court Civil Docket | |||
| Type: Docket | Date on the document: 01/18/2013 | ||
| OTHER DOCUMENTS | |||
| Case Name and/or Number: | |||
| Type: | Date on the document: | ||
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