Law Offices of Howard G. Smith announces that a class action lawsuit has
been filed on behalf of investors that purchased Molson Coors Brewing
Company (NYSE: TAP)
(“Molson Coors” or the “Company”) securities between February 14,
2017 and February 11, 2019, inclusive (the “Class Period”). Molson
Coors investors have until April 16, 2019 to file a lead
On February 12, 2019, Molson Coors announced that it would restate its
financial statements for fiscal years 2016 and 2017 after the audit
committee found errors in Molson Coors’ financial reporting. On this
news, Molson Coors’ share price fell $6.17, or more than 9.4%, to close
at $59.19 per share on February 12, 2019, thereby injuring investors.
The complaint filed in this class action alleges that Defendants made
false and/or misleading statements and/or failed to disclose that: (1)
Molson Coors failed to properly reconcile the outside basis deferred
income tax liability for Molson Coors’ investment in its MillerCoors,
LLC partnership; (2) consequently, Molson Coors misreported net income
in its consolidated financial statements for the fiscal years ending
December 31, 2016 and December 31, 2017, resulting in an overall
downward revision to net income; (3) Molson Coors lacked adequate
internal controls over financial reporting; and (4) as a result,
defendants’ statements about Molson Coors’ business, operations and
prospects were materially false and misleading and/or lacked a
reasonable basis at all relevant times.
If you purchased shares of Molson Coors, have information or would like
to learn more about these claims, or 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 firstname.lastname@example.org,
or visit our website at www.howardsmithlaw.com.
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jurisdictions under the applicable law and ethical rules.
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