Molson Coors Brewing Company (NYSE: TAP) Investor Securities Class Action Lawsuit 02/15/2019

If you purchased a significant amount of shares of Molson Coors Brewing Company (NYSE: TAP) between February 14, 2017 and February 11, 2019, and / or if you purchased any NYSE: TAP shares prior to February 2017 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: April 16, 2019. NYSE: TAP investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Molson Coors Brewing
Case Name: 
Molson Coors Brewing Shareholder Class Action Lawsuit 02/15/2019
Case Status: 
Lawsuit Filed
Affected Securities
NYSE: TAP
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
02/15/2019
Class Period Begin: 
02/14/2017
Class Period End: 
02/11/2019
Court of Filing: 
U.S. District Court for the Northern District of Illinois
Deadline To File for Lead: 
04/16/2019
Summary: 

An investor in shares of Molson Coors Brewing Company (NYSE: TAP) filed a lawsuit in the U.S. District Court for the Northern District of Illinois over alleged violations of Federal Securities Laws by Molson Coors Brewing Company in connection with certain allegedly false and misleading statements made between February 14, 2017 and February 11, 2019.

According to the complaint the plaintiff alleges on behalf of purchasers of Molson Coors Brewing Company (NYSE: TAP) common shares between February 14, 2017 and February 11, 2019, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 14, 2017 and February 11, 2019, the defendants made false and/or misleading statements and/or failed to disclose that Molson Coors Brewing Company failed to properly reconcile the outside basis deferred income tax liability for Molson Coors’ investment in its MillerCoors, LLC partnership, that consequently, Molson Coors Brewing Company misreported net income in its consolidated financial statements for the fiscal years ending December 31, 2016 and December 31, 2017, resulting in an overall downward revision to net income, that Molson Coors Brewing Company lacked adequate internal controls over financial reporting, and that as a result, defendants’ statements about Molson Coors’ business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Denver, CO based Molson Coors Brewing Company manufactures, markets, and sells beer and other malt beverage products in the United States, Canada, Europe, and internationally.

On February 12, 2019, Molson Coors Brewing Company (NYSE: TAP) announced that it would restate its financial statements for fiscal years 2016 and 2017 after the audit committee found errors in Molson Coors’ financial reporting. Shares of Molson Coors Brewing Company (NYSE: TAP) declined from $67.24 per share on February 5, 2019 to as low as $58.42 per share on February 13, 2019.