GMCR INVESTOR ALERT: The Law Offices of Howard G. Smith Reminds Investors of the Lead Plaintiff Deadline in the Class Action ...
07 August 2015 - 2:44AM
Business Wire
Law Offices of Howard G. Smith reminds investors in Keurig Green
Mountain, Inc. (“Keurig” or the “Company”) (NASDAQ: GMCR), who
purchased or otherwise acquired shares between February 4, 2015 and
May 14, 2015, inclusive (the “Class Period”), of the August 18,
2015 deadline to file a motion to be appointed as lead
plaintiff.
Keurig is a specialty coffeemaker that operates in the United
States and Canada. According to the complaint, the Company and its
officers’ violated federal securities laws with disclosures
regarding slowdowns in the sale of the Company’s Keurig 2.0 brewer;
as well as the announcement that the Company would delay the launch
of its newest product offering the Keurig Kold brewer. On May 7,
2015, the Company announced revenues and earnings that fell below
analysts’ expectations; projected flat to low-single digit
year-over-year net sales growth, compared to its previous guidance
of mid- to high-single digit growth; and also reduced its free cash
flow range to $120 million to $170 million, down from an expected
range of $225 million to $325 million. Keurig blamed its poor
performance on customer confusion about pod compatibility with the
Keurig 2.0 brewer, and on issues with partnerships in its K-cup
brand coffee and tea offerings.
On this news the Company’s shares fell $9.92 per share, or 9%,
to close on May 7, 2015 at $98.16 on volume of nearly 10 million
shares. Then, on May 14, 2015, after the market closed, the Company
announced that it would delay the retail sale of the Company’s new
cold brewing system, the Keurig Kold until the 2016 holiday season.
On this news, the Company’s share price fell sharply, thereby
causing damage to investors.
Investors of Keurig securities may move the Court no later than
August 18, 2015 to serve as lead plaintiff. If you wish
to learn more about this action, or if you have any
questions concerning this announcement or your rights or interests
with respect to these matters, please contact Howard G. Smith,
Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike,
Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215)
638-4847, toll-free at (888) 638-4847, or by email to
howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20150806006172/en/
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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