Ryan & Maniskas, LLP (
) announces that a class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of purchasers of Monster Beverage Corporation (NASDAQ: MNST) ("Monster" or the "Company") securities between February 23, 2012 and August 9, 2012 (the "Class Period").
For more information regarding this class action suit, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at
Monster markets and distributes energy drinks, fruit juices, smoothies, juice cocktails, iced teas, lemonades, and still water. The Company distributes its beverages in the United States and overseas.
The Complaint alleges that throughout the Class Period, the Company made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company was improperly advertising, marketing and promoting its Monster Energy(R) brand of energy drinks; and (2) as a result of the above, the Company'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 declined $6.57 per share or nearly 10%, to close at $61.20 per share on August 9, 2012.
The next day, after the market closed, the Company disclosed that it had "received a subpoena from a state attorney general in connection with an investigation concerning the Company's advertising, marketing, promotion, ingredients, usage and sale of its Monster Energy(R) brand of energy drinks." On this news, Monster stock declined an additional $6.93 per share or nearly 11%, to close at $54.27 per share on August 10, 2012.
If you are a member of the class, you may, no later than October 22, 2012, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action.