SOURCE: Brower Piven, A Professional Corporation

December 02, 2011 16:18 ET

Brower Piven Encourages Investors Who Have Losses in Excess of $750,000 From Investment in Green Mountain Coffee Roasters, Inc. to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the January 30, 2012 Lead Plaintiff Deadline

STEVENSON, MD--(Marketwire - Dec 2, 2011) - Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the District of Vermont on behalf of purchasers of the common stock of Green Mountain Coffee Roasters, Inc. ("Green Mountain" or the "Company") (NASDAQ: GMCR) during the period between February 02, 2011, through November 09, 2011, inclusive (the "Class Period").

If you have suffered a net loss for all transactions in Green Mountain Coffee Roasters, Inc. common stock during the Class Period, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at hoffman@browerpiven.com, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 60 years.

No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than January 30, 2012 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You are not required to have sold your shares to seek damages or to serve as a Lead Plaintiff.

The complaint accuses the defendants of violations of the Securities Act of 1933 and the Securities Exchange Act of 1934 by virtue of the Company's failure to disclose during the Class Period and/or in connection with the May 2011 Offering that the Company used GMCR's key fulfillment vendor, M. Block & Sons ("MBlock"), to house excessively manufactured, expired, or otherwise unsold product and materially overstated its revenues based on falsified sales orders, including through sham inventory shipments, for hundreds of millions of dollars in K-Cup and Keurig brewer products, booked "revenues" associated with these false sales orders and shipments as though they were real, and overstated its assets in proportion to its fictitious revenues by carrying the proceeds of dummy sales as assets on its balance sheet. According to the complaint, after, on October 17, 2011, GMCR's misconduct and questionable relationship with MBlock was disclosed, and after, on November 9, 2011, the Company announced disappointing earnings and a very large increase in inventory, the value of GMCR shares declined significantly.

If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.

Contact Information

  • CONTACT:
    Charles J. Piven
    Brower Piven, A Professional Corporation
    Stevenson, Maryland
    410/415-6616
    Email Contact