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You must submit the settlement Proof form attached below, in order to participate in this settlement. There is a strict deadline of December 1, 2018 by which all claims must be submitted. The instructions for submitting are included in the Proof and the Notice files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, INC.
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Lawsuit Overview
Settlement Overview
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July 6, 2018 - The court preliminarily approved the settlement.
June 19, 2018 - A stipulation of settlement was filed by the parties.
July 24, 2015 - The Court of Appeals reversed the judgment of the court and remanded for further proceedings.
January 21, 2014 - A notice of appeal was filed.
December 20, 2013 - The court granted the defendants' motion to dismiss.
March 1, 2013 - A motion to dismiss the corrected amended consolidated complaint was filed.
November 5, 2012 - A corrected amended consolidated complaint was filed.
October 29, 2012 - An amended consolidated complaint was filed.
November 29, 2011 - An investor in 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.
According to the complaint the plaintiff alleged on behalf purchasers of the publicly traded common stock of Green Mountain Coffee Roasters Inc between February 2, 2011 and November 9, 2011 and on behalf of investors who purchased or otherwise acquired NASDAQ: GMCR stock pursuant and/or traceable to a registered public offering conducted on or about May 5, 2011, that Green Mountain Coffee Roasters Inc certain of its executives and directors, and the underwriters of the registered public offering conducted on or about May 5, 2011 violated Federal Securities Laws.
Specifically the plaintiff claims that between February 2, 2011 and November 9, 2011, certain of the defendants systematically manipulated and strategically managed Green Mountain Coffee Roasters Inc's revenues. Green Mountain Coffee Roasters Inc reported that its 52weeks Total Revenue rose from $492.52million for a 52week period ending on Sept. 27, 2008 to $2.65billion for a period ending on Sept. 24, 2011. Its Net Income for the same time periods rose from $21.67million to $199.50million.
The plaintiff alleges that certain defendants used Green Mountain Coffee Roasters Inc's key fulfillment vendor, M.Block & Sons as a captive warehouse to harbor excessively manufactured, expired, or otherwise unsold product. The plaintiff says that the fraudulent scheme at Green Mountain Coffee Roasters Inc involved materially overstating its revenues based on falsified sales orders -- including through sham inventory shipments -- for hundreds of millions of dollars in K-Cup and Keurig brewer products.
Shares of Green Mountain Coffee Roasters Inc (NASDAQ: GMCR) rose since its 3:1 split on May 18, 2010 from slightly below $24 per share to as high as $111.62 per share on September 19, 2011.
Then on October 17, 2011, activist investor David Einhorn issued a report. Among other things, the report raised questions concerning the relationship and business practice between Green Mountain Coffee Roasters Inc and M.Block & Sons. Since late September NASDAQ: GMCR stocks lost more than 50% of its value and traded on November 29, 2011 slightly below $49 per share. In fact, NASDAQ: GMCR shares fell from $67.02 per share on November 9th to as low as $40.27 per share on November 10, 2011, after Green Mountain Coffee Roasters Inc announced its Full Year and Fiscal 2011 Fourth Quarter Results.