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LOS ANGELES, April 15, 2019 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Molson Coors Brewing Company (“Molson Coors” or “the Company”) (NYSE: TAP) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's shares between February 14, 2017 and February 11, 2019, inclusive (the ''Class Period''), are encouraged to contact the firm before April 16, 2019.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Molson Coors did not take proper steps to reconcile the outside basis deferred income tax liability for the Company’s investment in the MillerCoors, LLC partnership. This resulted in the Company misreporting its net income in its financial statements for the year ending December 31, 2016, and December 31, 2017. Consequently, the net income for these two years was revised downwards. Molson Coors lacked effective internal controls on financial reporting. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Molson Coors, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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