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Keurig Green Mountain Inc (NASDAQ: GMCR) Investor Securities Class Action Lawsuit 06/19/2015

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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 06/19/2015
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Northern District of California

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

July 13, 2016 - The case was voluntarily dismissed.

April 13, 2016 - A motion to dismiss the second amended consolidated complaint was filed.

March 23, 2016 - A second amended consolidated complaint was filed.

March 2, 2016 - The court granted defendants' motion to dismiss with leave to amend.

December 11, 2015 - A motion to dismiss the amended complaint was filed.

November 6, 2015 - An amended complaint was filed.

June 19, 2015 - An investor in shares of Keurig Green Mountain Inc (NASDAQ: GMCR) filed a lawsuit in the U.S. District Court for the Northern District of California over alleged violations of Federal Securities Laws by Keurig Green Mountain Inc in connection with certain allegedly false and misleading statements made between February 4, 2015 and May 6, 2015.

According to the complaint the plaintiff alleges on behalf of purchasers of Keurig Green Mountain Inc (NASDAQ: GMCR) common shares between February 4, 2015 and May 6, 2015, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between February 4, 2015 and May 6, 2015 defendants made allegedly false and/or misleading statements and/or failed to disclose that defendants’ projections for sales were unrealistic and unattainable given the continuing consumer confusion over Keurig Green Mountain Inc’s Keurig 2.0 brewing system, that the retail distribution of Keurig Green Mountain Inc’s new cold brewing system, Keurig Kold, would be delayed, and that as a result, Defendants’ statements about Keurig Green Mountain Inc’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis. Keurig Green Mountain Inc reported that its annual Total Revenue rose from over $2.65 billion for the 52 weeks period that ended on September 24, 2011 to over $4.7 billion for the 52 weeks period that ended on September 27, 2014, and that its Net Income for those respective time periods increased from $199.50 million to $596.52 million. Shares of Keurig Green Mountain Inc (NASDAQ: GMCR) grew from $17.57 per share in July 2012 to as high as $154.27 per share in November 2014.

On May 6, 2015, Keurig Green Mountain Inc reported its fiscal second quarter 2015 results. Among other things, Keurig Green Mountain Inc also updated its outlook for its fiscal year 2015 and provided its outlook for the third quarter. Shares of Keurig Green Mountain Inc (NASDAQ: GMCR) declined on May 7, 2015 to as low as $95.02 per share, respectively $80.83 per share on June 12, 2015.