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Milberg LLP Announces the Filing of a Securities Fraud Class Action Lawsuit
Securities Class Action | 2010/11/08 11:20

A class action lawsuit was filed in the United States District Court for the District of Vermont on behalf of purchasers of Green Mountain Coffee Roasters, Inc. securities during the period from July 28, 2010, to September 29, 2010.

The complaint alleges that Green Mountain and certain of its officers violated the Securities Exchange Act of 1934 by not disclosing improper revenue recognition practices.

On September 28, 2010, Green Mountain reported that the U.S. Securities and Exchange Commission's Division of Enforcement is conducting an investigation and seeking documents relating to certain revenue recognition practices and the Company's relationship with one of its fulfillment vendors. Additionally, Green Mountain announced that as of June 26, 2010, there is a cumulative $7.6 million overstatement of pre-tax income due to an accounting error.

In reaction to the news, Green Mountain shares fell 16.08% to close at $31.06 on September 29, 2010.

If you purchased Green Mountain securities during the Class Period, you may, no later than November 29, 2010, file a motion with the Court to appoint you lead plaintiff. A lead plaintiff is a representative party that directs the litigation, and will be the movant that the Court determines to have the largest financial interest in the litigation with claims typical of those of other class members and the ability to adequately represent the class. Your share in any recovery will not be enhanced by serving as a lead plaintiff. You do not need to move for lead plaintiff to recover as an absent class member. You may retain Milberg LLP, or other attorneys, for this action, but do not need to retain counsel to recover as an absent class member. The complaint in this action was not filed by Milberg.

Founded in 1965, Milberg has offices in New York, Los Angeles, Tampa, and Detroit. The Firm has litigated landmark cases and recovered billions for shareholders and consumers. Our website has additional information: (www.milberg.com).



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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
 
 
 

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