Hagens Berman Alerts Molson Coors (TAP) Investors to Investigation of Admitted Improper Accounting and Possible Securities Law Violations
SAN FRANCISCO, Feb. 13, 2019 /PRNewswire/ -- Hagens Berman Sobol Shapiro LLP alerts investors in Molson Coors Brewing Company (NYSE: TAP) to the Firm's investigation of possible securities law violations related to Molson Coors' admitted improper accounting. If you purchased or otherwise acquired Molson Coors securities between February 14, 2017 and February 12, 2019 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
or contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing
On February 12, 2019, Molson Coors and senior management announced the Company's previously issued financial statements as of and for the years ended December 31, 2017 and December 31, 2016 should be restated and investors should no longer rely on them.
In addition, they announced "management of the Company has determined that a material weakness existed in the Company's internal control over financial reporting as of December 31, 2018 relating to the design and maintenance of effective controls over the completeness and accuracy of the accounting for and disclosure of the income tax effects of acquired partnership interests."
This news drove the price of Molson Coors shares down $6.17, or over 10%, to close at $59.19 on February 12, 2019.
"We're focused on investors' losses, the extent to which Molson Coors' financial statements may have misled investors, and the extent to which senior management's statements concerning the effectiveness of internal controls may have misled investors," said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Molson Coors should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email TAP@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with 80+ attorneys in 10 offices across the country. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000
View original content to download multimedia:http://www.prnewswire.com/news-releases/hagens-berman-alerts-molson-coors-tap-investors-to-investigation-of-admitted-improper-accounting-and-possible-securities-law-violations-300794776.html
SOURCE Hagens Berman Sobol Shapiro LLP