A lawsuit was filed by a current investor in NASDAQ:MNST shares in effort to gain access to documents from Monster Beverage Corp and current long-term NASDAQ:MNST stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/18/2013 -- An investor in NASDAQ:MNST (formerly NASDAQ:HANS) shares filed a lawsuit in effort to gain access to certain records from Monster Beverage Corp.
Investors who purchased shares of Hansen Natural (NASDAQ:HANS), now Monster Beverage Corp (NASDAQ:MNST) in 2007 or earlier and currently hold any NASDAQ:MNST shares have certain options and you should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554
The plaintiff filed the lawsuit after the board of directors rejected a demand in 2012 to the board of directors of Monster Beverage Corp. The plaintiff seeks documents from the company about meetings in which the demand was discussed, as well as materials related to a special committee set up to investigate the plaintiff’s claims.
Monster Beverage Corp. currently faces a lawsuit from 2008 over alleged securities laws violations. The lawsuit was filed on behalf of purchasers of Monster Beverage Corp (formerly Hansen Natural) stock during the period November 9, 2006 through November 8, 2007. The plaintiff in that lawsuit alleged that between November 9, 2006 through November 8, 2007 defendants allegedly issued materially false and misleading statements that misrepresented and failed to disclose that Hansen Natural's second quarter sales results were materially impacted by inventory loading as customers were induced to purchase more product before the Company raised its prices in its Monster Energy drink line and its Java Monster drink line, that the Company was experiencing declining sales in its non-core drink lines, that the Company was experiencing production shortfalls with its Java Monster drink line, and that, as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about the Company and its prospects. While the court in July 2010 dismissed the entire consolidated complaint, the plaintiff filed an amended consolidated complaint in August 2010, which was only partially dismissed in September 2012.
On December 17, 2013, NASDAQ:MNST shares closed at $63.39 per share.
Those who purchased shares of Hansen Natural, now Monster Beverage Corp (NASDAQ:MNST) in 2007 or earlier and currently hold any NASDAQ:MNST shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego