Monster Worldwide (MNST) - Get Monster Beverage Corporation Report was told by regulators to preserve all relevant information in anticipation of a request for documents in connection with an informal investigation of stock option grants.
Monster Worldwide said it intends to cooperate fully with the Securities and Exchange Commission request and investigation.
Shares of New York-based Monster fell Monday after the company said the Justice Department was served with a subpoena from the U.S. attorney for the Southern District of New York, relating to stock option grants.
Monster previously announced that a committee of independent members of its board has been conducting an internal review and analysis of all stock option grants previously issued by the company. The committee of independent directors has retained independent outside legal counsel.
After rising 9% in regular trading Wednesday, Monster slipped 49 cents to $38.45 in late action.