Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  Molson Coors Brewing    TAP

MOLSON COORS BREWING

(TAP)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

Scott+Scott Attorneys at Law LLP : Investigating Molson Coors Brewing Company for Breach of Fiduciary Duties – TAP

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/17/2019 | 03:48pm EDT

Scott+Scott Attorneys at Law LLP (“Scott+Scott”), a national securities and consumer rights litigation firm, is investigating whether certain directors and officers of Molson Coors Brewing Company (“Molson Coors” or the “Company”) (NYSE: TAP) breached their fiduciary duties to the Company and its shareholders. Following Molson Coors’ recent disclosure that it will restate its 2016 and 2017 financial statements, Molson Coors shares declined nearly 10 percent in value. If you are a Molson Coors shareholder, you may have legal claims against the Company.

Scott+Scott is investigating whether members of Molson Coors’s board of directors made or allowed Molson Coors to make 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’s 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, the Company’s public statements were materially false and misleading at all relevant times.

On February 12, 2019 Molson Coors disclosed that it identified certain errors in connection with the Company’s acquisition of its remaining interest in MillerCoors in the fourth quarter of 2016. As a result, Molson Coors has concluded that the Company’s previously issued 2016 and 2017 consolidated financial statements were misstated. Further, Molson Coors has disclosed that it will restate its 2016 and 2017 financial statements and intends to “increase its deferred tax liabilities and deferred tax expenses by $399.1 million, with a corresponding decrease in net income and earnings per share.” The release of this news triggered the nearly 10 percent decline in the value of Molson Coors shares .

What You Can Do

If you are a Molson Coors shareholder and wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joe Pettigrew toll-free at (844) 818-6982 or at jpettigrew@scott-scott.com.

About Scott+Scott Attorneys at Law LLP

Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.

Attorney Advertising

CONTACT:
Joe Pettigrew
Scott+Scott Attorneys at Law LLP
230 Park Avenue, 17th Floor, New York, NY 10169
(844) 818-6982
jpettigrew@scott-scott.com


© Business Wire 2019
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on MOLSON COORS BREWING
07/10SCOTT+SCOTT ATTORNEYS AT LAW LLP : Investigating Molson Coors Brewing Company's ..
BU
07/10MOLSON COORS : Brewing Company to Webcast 2019 Second Quarter Earnings Conferenc..
BU
07/08MOLSON COORS BREWING CO : Entry into a Material Definitive Agreement, Financial ..
AQ
07/04Arcelormittal Announces The Completion Of A "Tap -2-
DJ
07/04Arcelormittal Announces The Completion Of A "Tap Issue" Of Eur250 Million, Wi..
DJ
06/13HEXO : plans to enter 8 U.S. states in 2020 with CBD products
AQ
05/31MOLSON COORS BREWING : Ex-dividend day for
FA
05/27MOLSON COORS BREWING : Newest Sustainable Farming Initiatives Build Future-Proof..
AQ
05/25U.S. court rules partially in favour of Molson in ad row with Bud Light
RE
05/25JUDGE : Anheuser-Busch must revise ads aimed at MillerCoors
AQ
More news
Financials (USD)
Sales 2019 10 681 M
EBIT 2019 1 552 M
Net income 2019 1 021 M
Debt 2019 8 698 M
Yield 2019 3,74%
P/E ratio 2019 11,4x
P/E ratio 2020 11,3x
EV / Sales2019 1,90x
EV / Sales2020 1,84x
Capitalization 11 642 M
Chart MOLSON COORS BREWING
Duration : Period :
Molson Coors Brewing Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends MOLSON COORS BREWING
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 18
Average target price 64,4  $
Last Close Price 53,7  $
Spread / Highest target 49,0%
Spread / Average Target 20,0%
Spread / Lowest Target -6,89%
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
Sector and Competitors
1st jan.Capitalization (M$)
MOLSON COORS BREWING-4.38%11 871
ANHEUSER-BUSCH INBEV35.94%176 060
AMBEV SA18.66%78 217
HEINEKEN28.52%63 560
ASAHI GROUP HOLDINGS LTD20.91%21 151
CARLSBERG A/S30.06%20 481