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MarketScreener Homepage  >  Equities  >  Nyse  >  Molson Coors Brewing    TAP

MOLSON COORS BREWING

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Rosen Law Firm Files Securities Class Action Lawsuit Against Molson Coors Brewing Company – TAP

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02/15/2019 | 12:10pm EDT

Rosen Law Firm, a global investor rights law firm, announces it has filed a class action lawsuit on behalf of purchasers of the securities of Molson Coors Brewing Company (NYSE:TAP) from February 14, 2017 through February 11, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Molson Coors investors under the federal securities laws.

To join the Molson Coors class action, go to https://www.rosenlegal.com/cases-1505.html or call Phillip Kim, Esq. or Zachary Halper, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or zhalper@rosenlegal.com for information on the class action.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR’S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.

According to the lawsuit, 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. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 16, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to https://www.rosenlegal.com/cases-1505.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim or Zachary Halper of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or zhalper@rosenlegal.com.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013.


© Business Wire 2019
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Financials (USD)
Sales 2019 10 607 M
EBIT 2019 1 455 M
Net income 2019 959 M
Debt 2019 8 658 M
Yield 2019 3,92%
P/E ratio 2019 11,3x
P/E ratio 2020 11,2x
EV / Sales2019 1,84x
EV / Sales2020 1,78x
Capitalization 10 877 M
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Technical analysis trends MOLSON COORS BREWING
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TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
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Mean consensus HOLD
Number of Analysts 20
Average target price 58,05  $
Last Close Price 50,07  $
Spread / Highest target 45,8%
Spread / Average Target 15,9%
Spread / Lowest Target -12,1%
EPS Revisions
Managers
NameTitle
Mark R. Hunter President, Chief Executive Officer & Director
Peter H. Coors Chairman
Tracey I. Joubert Chief Financial Officer
Andrew Thomas Molson Director
H. Sanford Riley Independent Director
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