Company: Molson Coors Brewing Company
Class Period: February 14, 2017 — February 12, 2019
Court: U.S.D.C. - District of Colorado
Deadline: April 16, 2019
Kaskela Law LLC announces that a shareholder class action lawsuit has been filed against Molson Coors Brewing Company (NYSE: TAP) (“Molson Coors” or the “Company”) on behalf of investors who purchased shares of the Company’s common stock between February 14, 2017 and February 12, 2019, inclusive (the “Class Period”).
The shareholder class action complaint alleges, among other things, that Molson Coors and certain of the Company’s executive officers made materially false and misleading statements to investors during the Class Period about the Company’s financial results.
On February 12, 2019, Molson Coors disclosed that its Audit Committee “concluded that the Company’s previously issued consolidated financial statements as of and for the years ended December 31, 2017 and December 31, 2016 should be restated and no longer be relied upon.” Additionally, Molson Coors disclosed that “management of the Company has determined that a material weakness existed in the Company’s internal control over financial reporting as of December 31, 2018 relating to the design and maintenance of effective controls over the completeness and accuracy of the accounting for and disclosure of the income tax effects of acquired partnership interests.” Following this news, shares of the Company’s common stock fell $6.17 per share, or 9.5% in value, to close on February 12, 2019 at $59.19, on heavy trading volume.
IMPORTANT DEADLINE: Investors who purchased Molson Coors’ common stock during the Class Period may, no later than April 16, 2019, seek to be appointed as a lead plaintiff representative of the investor class.
Molson Coors stockholders are encouraged to contact Kaskela Law LLC at (888) 715 – 1740, or by completing the information form on this page, to discuss their legal rights and options with respect to this action.