Case Information: Monster Beverage CorporationSymbol: MNST
Purchase Dates: February 23rd, 2012 - August 9th, 2012
Deadline for Filing Lead Plaintiff Motion: October 22nd, 2012
Download the Complaint: Monster Complaint
The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Central District of California on behalf of purchasers of the publicly traded securities of Monster Beverage Corporation ("Monster" or the "Company") (NASDAQ: MNST) between February 23, 2012 and August 9, 2012, inclusive (the "Class Period").
The Complaint alleges that Monster, a marketer and distributer of energy drinks, fruit juices, smoothies, juice cocktails, iced teas, lemonades, and still water, and certain of its officers and directors violated the federal securities laws. Specifically, defendants failed to disclose the following: (i) the Company was improperly advertising, marketing and promoting its Monster Energy® brand of energy drinks; and (ii) as a result, the Company's financial statements were materially false and misleading at all relevant times.
On August 8, 2012, Monster disclosed financial results that failed to meet analysts' expectations. On this news, Monster stock declined $6.57, or nearly 10%, to close at $61.20 per share on August 9, 2012. The next day, after the market closed, the Company disclosed that it had "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." On this news, Monster stock fell an additional $6.93 to close at $54.27 per share on August 10, 2012.
If you are a member of the class, you may, no later than October 22, 2012, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.
While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit: www.izardnobel.com/monsterbeveragecorporation/, or contact Izard Nobel LLP toll-free: (800)797-5499, or by e-mail: email@example.com. For more information about class action cases in general, please visit our website: www.izardnobel.com