BERKELEY, Calif., Jan. 7, 2012 /PRNewswire/ -- Only 24 days remain before the Jan. 30, 2012, lead plaintiff deadline in a securities class-action lawsuit filed against Green Mountain Coffee Roasters (NASDAQ: GMCR) following the allegations against GMCR by Hedge Fund Manager David Einhorn.
Investors with losses greater than $300,000 who purchased GMCR common stock between Feb. 2, 2011, and Nov. 9, 2011, or who acquired stock as part of a public offering on or about May 5, 2011, may contact Partner Reed R. Kathrein, who is leading the firm's investigation, by calling (510) 725-3000. Mr. Kathrein can also be reached by emailing GMCR@HBSSlaw.com.
Investors can also contact the firm online and learn more about the case at www.hbsslaw.com/gmcr.
Green Mountain's shares slumped almost 25 percent after analyst David Einhorn warned on Oct. 17, 2011, about weaknesses in the company's business model and that its accounting was suspect. Then, on Nov. 9, 2011, GMCR announced disappointing earnings results and skyrocketing inventory. On this news, GMCR's shares plummeted an additional 40 percent, from a close of $67.02 on Nov. 9, 2011, to a close of $40.89 on Nov. 10, 2011.
"Our investigation is continuing to make progress," said Mr. Kathrein. "If GMCR used Mblock to hide inventory its accounting, as disclosed to investors, could be suspect, making its disclosures misleading."
Whistleblowers
Persons with knowledge that may help the investigation are encouraged to contact the firm. The Securities and Exchange Commission (SEC) recently finalized new rules as part of its implementation of the whistleblower provisions in the Dodd-Frank Wall Street Reform Bill. The new rules protect whistleblowers from employer retaliation and allow the SEC to reward those who provide information leading to a successful enforcement with up to 30 percent of the recovery.
About Hagens Berman
Seattle-based Hagens Berman Sobol Shapiro LLP is an investor-rights class-action law firm with offices in 10 cities. In addition to investors, the firm represents whistleblowers, workers and consumers in complex litigation. More about the law firm and its successes can be found at www.hbsslaw.com. The firm's securities law blog is at www.meaningfuldisclosure.com.
SOURCEHagens Berman
