San Diego, CA -- (ReleaseWire) -- 10/03/2012 -- A deadline is coming up on October 22, 2012 in the lawsuit filed for investors of Monster Beverage Corp (NASDAQ:MNST) over alleged securities laws violations by Monster Beverage Corp in connection with certain statements regarding its Monster Energy(R) brand of energy drinks.
Investors with a substantial investment in Monster Beverage Corp (NASDAQ:MNST)shares between February 23, 2012 and August 9, 2012, should get active before the Deadline that is coming up on October 22, 2012, and NASDAQ:MNST investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint filed in the U.S. District Court, Central District of California the plaintiff alleges on behalf of purchasers of Monster Beverage Corp (NASDAQ:MNST)securities between February 23, 2012 and August 9, 2012, that Monster Beverage Corp and certain of its top officials violated Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by issuing between February 23, 2012 and August 9, 2012, allegedly materially false and misleading statements regarding its business, operational and compliance policies.
Specifically the plaintiff alleges that Defendants made allegedly false and/or misleading statements and/or failed to disclose that Monster Beverage Corp was improperly advertising, marketing and promoting its Monster Energy(R) brand of energy drinks and that as a result of the above, Monster Beverage Corp’s financial statements were materially false and misleading at all relevant times.
On August 9, 2012, Monster Beverage Corp (NASDAQ:MNST) disclosed in a filing with the Securities and Exchange Commission that in July 2012, it received a subpoena from a state attorney general in connection with an investigation concerning the Company’s advertising, marketing, promotion, ingredients, usage and sale of its Monster Energy® brand of energy drinks.
Shares of Monster Beverage Corp (NASDAQ:MNST) fell from over $68 per share on August 7, 2012, to as low as $52.11 per share on August 13, 2012.
On October 2, 2012, NASDAQ:MNST shares closed at $54.69 per share, which is significantly below its 52 week High of $83.96 per share.
Those who purchased shares of Monster Beverage Corp (NASDAQ:MNST) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego