The law firm of
Lieff Cabraser Heimann & Bernstein, LLP
announces that class action lawsuits have been brought on behalf of all persons who purchased the securities of
Monster Beverage Corporation
(“Monster” or the “Company”) (NASDAQ: MNST) between February 23, 2012 and August 9, 2012, inclusive (the “Class Period”).
If you purchased Monster securities during the Class Period, you may move the Court for appointment as lead plaintiff by no later than October 22, 2012. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the action will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.
Monster shareholders who wish to learn more about the action and how to seek appointment as lead plaintiff, or individuals with information pertaining to the investigation, should
of Lieff Cabraser toll-free at 1 (800) 541-7358.
Background on the Monster Securities Class Litigation
The actions are brought against Monster and certain of its officers for violations of the Securities Exchange Act of 1934. Monster markets and distributes energy drinks, fruit juices, smoothies, juice cocktails, iced teas, lemonades, and still water.
The complaints allege that, throughout the Class Period, defendants made materially false and misleading statements regarding Monster’s business, operational and compliance policies. In particular, Defendants misrepresented and failed to disclose that the Company was improperly advertising, marketing and promoting its Monster Energy(R) brand of energy drinks and that, as a result of the above, Monster’s financial statements were materially false and misleading at all relevant times.
On August 8, 2012, after the market closed, the Company disclosed financial results that failed to meet analysts’ expectations. On this news, Monster stock dropped $6.57 per share, or nearly 10%, to close at $61.20 per share on the following day.