Press release from Business Wire
Green Mountain Coffee Roasters Alert: The Briscoe Law Firm and Powers Taylor, LLP Investigate Possible Breaches of Fiduciary Duty by the Officers and Directors of Green Mountain Coffee Roasters, Inc.
Monday, May 14, 2012
DALLAS (Business Wire) -- Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor, LLP announce that the firms are investigating legal claims against the officers and Board of Directors of Green Mountain Coffee Roasters, Inc. (“Green Mountain” or “GMCR”) (NASDAQ: GMCR) related to potential securities violations between February 2, 2012 and May 2, 2012 (the “Class Period”).
If you are an affected investor and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org, or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
In a recently filed federal class action complaint, Green Mountain and certain of its officers and directors were charged with violating the Securities Exchange Act of 1934. Specifically, the complaint alleges that during the class period the defendants issued materially false and misleading statements to investors when it failed to disclose that (i) demand for Green Mountain's brewers and portion packs had slowed; (ii) Green Mountain'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 Green Mountain and its prospects. According to the complaint, after these came to light in a May 2, 2012 press release, Green Mountain's shares plunged nearly 48% a share.
According to shareholder rights attorney Willie Briscoe, “The recent revelations about Green Mountain's alleged misrepresentations regarding its business and financial status has led our firms to investigate possible breaches of fiduciary duties and other violations of state law by Green Mountain's officers and directors. Based on our investigation, we are prepared to institute litigation to preserve the company and the value of Green Mountain stock for all shareholders.”
The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
Powers Taylor, LLP
Patrick Powers, 877-728-9607
The Briscoe Law Firm, PLLC
Willie Briscoe, 214-706-9314