Green Mountain Coffee Roasters, Inc. (2012)
Class Period: Feb 2, 2012 to May 2, 2012
Lead Plaintiff Deadline: Jul 6, 2012 + Deadline passed
Summary of Case:
A securities class action has been filed against Green Mountain Coffee Roasters, Inc. ("GMCR" or the "Company") on behalf of all purchasers of the common stock of Green Mountain between February 02, 2012 to May 02, 2012. This case has been filed in the USDC - Vermont .
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.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.