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Green Mountain Coffee Roasters Inc (NASDAQ: GMCR) Investor Securities Class Action Lawsuit 05/07/2012

  • If you purchased shares of Green Mountain Coffee Roasters Inc (NASDAQ: GMCR), you may have certain options. Please contact the Shareholders Foundation, Inc.

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Lawsuit Overview

Case Dismissed
Company
Green Mountain Coffee Roasters, Inc.
Security
NASDAQ: GMCR

Case Name
Green Mountain Coffee Roasters Shareholder Class Action Lawsuit 05/07/2012
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the District of Vermont

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

June 17, 2014 - The Court of Appeals affirmed the court's September 26, 2013 decision.

October 18, 2013 - A notice of appeal was filed.

September 26, 2013 - The court granted the defendants' motion to dismiss. The plaintiffs were given leave to amend the complaint.

January 17, 2013 - A motion to dismiss the amended complaint was filed.

October 25, 2012 - An amended complaint was filed.

May 7, 2012 - An investor in shares of Green Mountain Coffee Roasters Inc (NASDAQ: GMCR) filed a lawsuit in the U.S. District Court for the District of Vermont against Green Mountain Coffee Roasters Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between February 2, 2012 and May 2, 2012.

According to the complaint the plaintiff alleges on behalf of purchasers of Green Mountain Coffee Roasters Inc (NASDAQ: GMCR) common stock during the period between February 2, 2012 and May 2, 2012, that Green Mountain Coffee Roasters Inc and certain of its officers and directors violated the Securities Exchange Act of 1934.

Specifically, the plaintiff alleges that defendants issued materially false and misleading statements regarding the Company’s growth and demand for its products. The plaintiff claims that, among other things, defendants misrepresented and/or failed to disclose that demand for the Company’s brewers and portion packs had slowed and that the Company’s models for predicting consumer demand were flawed and ineffective.

On May 2, 2012, Green Mountain Coffee Roasters Inc reported its Second Quarter Fiscal Year 2012 Results. Among other things, Green Mountain Coffee Roasters Inc missed second quarter sales estimates. It said its second quarter Fiscal Year 2012 Net Sales were up 37%, compared to an estimated growth of 45-50%.

In addition, Green Mountain Coffee Roasters Inc revised estimates for its fiscal year 2012. Following the announcement shares of Green Mountain Coffee Roasters Inc (NASDAQ: GMCR) fell from $49.52 per share on May 2, 2012 to $24.91 per share on May 3, 2012. NASDAQ: GMCR shares closed on May 7, 2012 at $24.30per share, significantly down from its current 52weeksHigh of $115.98 per share.