An investigation on behalf of current long term investors in Monster Beverage Corp (NASDAQ:MNST) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NASDAQ:MNST stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/04/2012 -- Certain directors and officers of Monster Beverage Corp are under over possible breaches of fiduciary duties in connection with certain statements regarding its Monster Energy drinks.
Investors who are current long term investors in Monster Beverage Corp (NASDAQ:MNST) shares, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in Monster Beverage Corp (NASDAQ:MNST) stocks follows a lawsuit filed earlier over alleged securities laws violations by Monster Beverage Corp. The investigation on behalf of current long term investors in Monster Beverage Corp (NASDAQ:MNST) stocks concerns whether certain Monster Beverage Corp officers and directors breached their fiduciary duties owed to NASDAQ:MNST investors and are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. the U.S. District Court, Central District of California the plaintiff alleges that that Monster Beverage Corp violated Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by issuing between February 23, 2012 and August 9, 2012, allegedly materially false and misleading statements regarding its business, operational and compliance policies.
Specifically the plaintiff alleges that Defendants made allegedly false and/or misleading statements and/or failed to disclose that Monster Beverage Corp was improperly advertising, marketing and promoting its Monster Energy(R) brand of energy drinks and that as a result of the above, Monster Beverage Corp’s financial statements were materially false and misleading at all relevant times.
On August 9, 2012, Monster Beverage Corp (NASDAQ:MNST) disclosed in a filing with the Securities and Exchange Commission that in July 2012, it received a subpoena from a state attorney general in connection with an investigation concerning the Company’s advertising, marketing, promotion, ingredients, usage and sale of its Monster Energy® brand of energy drinks.
Shares of Monster Beverage Corp (NASDAQ:MNST) fell from over $68 per share on August 7, 2012, to as low as $52.11 per share during August 13, 2012.
On August 31, 2012, NASDAQ:MNST shares closed at $58.94 per share..
Those who purchased shares of Monster Beverage Corp (NASDAQ:MNST), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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