Molson Coors Brewing Company Securities Litigation
On or around 05/28/2019 (Ongoing date of last review)
Filing Date: February 15, 2019
According to the Complaint, Molson Coors manufactures and sells beer and other beverage products in the United States, Canada, Europe, and internationally.
The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) Molson Coors failed to properly reconcile the outside basis deferred income tax liability for Molson Coors’ investment in its MillerCoors, LLC partnership; (2) consequently, Molson Coors misreported net income in its consolidated financial statements for the fiscal years ending December 31, 2016 and December 31, 2017, resulting in an overall downward revision to net income; (3) Molson Coors lacked adequate internal controls over financial reporting; and (4) as a result, Defendants’ statements about Molson Coors’ business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On May 24, 2019, this case was transferred to the Northern District of Colorado under Docket 19-CV-01665. On July 26, 2019, Plaintiff voluntarily dismissed this case. A related case continues under Docket 19-CV-00455.
Company & Securities Information
Defendant: Molson Coors Brewing Company
Sector: Consumer Non-Cyclical
Industry: Beverages (Alcoholic)
Headquarters: United States
Ticker Symbol: TAP
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Jacob Mathes, et al. v. Molson Coors Brewing Company, et al.