November 08, 2010 11:58 ET

Milberg LLP Announces the Filing of a Securities Fraud Class Action Lawsuit Against Green Mountain Coffee Roasters, Inc.

NEW YORK, NY--(Marketwire - November 8, 2010) -  A class action lawsuit was filed in the United States District Court for the District of Vermont on behalf of purchasers of Green Mountain Coffee Roasters, Inc. ("Green Mountain" or the "Company") (NASDAQ: GMCR) securities during the period from July 28, 2010, to September 29, 2010 (the "Class Period").

The complaint alleges that Green Mountain and certain of its officers violated the Securities Exchange Act of 1934 by not disclosing improper revenue recognition practices.

On September 28, 2010, Green Mountain reported that the U.S. Securities and Exchange Commission's Division of Enforcement is conducting an investigation and seeking documents relating to certain revenue recognition practices and the Company's relationship with one of its fulfillment vendors. Additionally, Green Mountain announced that as of June 26, 2010, there is a cumulative $7.6 million overstatement of pre-tax income due to an accounting error.

In reaction to the news, Green Mountain shares fell 16.08% to close at $31.06 on September 29, 2010.

If you purchased Green Mountain securities during the Class Period, you may, no later than November 29, 2010, file a motion with the Court to appoint you lead plaintiff. A lead plaintiff is a representative party that directs the litigation, and will be the movant that the Court determines to have the largest financial interest in the litigation with claims typical of those of other class members and the ability to adequately represent the class. Your share in any recovery will not be enhanced by serving as a lead plaintiff. You do not need to move for lead plaintiff to recover as an absent class member. You may retain Milberg LLP, or other attorneys, for this action, but do not need to retain counsel to recover as an absent class member. The complaint in this action was not filed by Milberg.

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Contact Information

  • Andrei V. Rado, Esq.
    Milberg LLP
    One Pennsylvania Plaza, 49th Fl.
    New York, NY 10119-0165
    Phone number: (800) 320-5081

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