NEW YORK, May 22, 2019 /PRNewswire/ -- WeissLaw LLP, a
national class action and shareholders' rights law firm, announces
an investigation of Molson Coors Brewing Company. ("Molson Coors" or the "Company) (NYSE: TAP).
The investigation focuses on possible breaches of fiduciary duty
and violations of the Federal securities laws by the Molson Coors
Board of Directors in failing to ensure maintenance of an adequate
system of internal controls over the Company's operations and
financial reporting. In a February 12,
2019 press release, Molson
Coors disclosed that its financial reports for the years
ended December 31, 2016 and 2017
could no longer be relied on, and will be restated.
These adjustments resulted in an aggregate $247.7 million increase to the Company's deferred
tax liabilities, and corresponding decrease in retained earnings
and total equity as of December 31,
2017. Molson Coors cited
"ineffective internal control over financial reporting," and the
existence of a material weakness as reasons for its
restatements. On that news, Molson
Coors' shares tumbled $6.35,
or approximately 10%, from their previous day's closing price of
$65.36, to trade as low as
$59.01.
If you own Molson
Coors shares and wish to discuss this investigation or have
any questions concerning this notice or your rights or interests,
please contact:
Joshua Rubin,
Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
Visit our website
http://www.weisslawllp.com/molson-coors-brewing-company/
Or follow us on Twitter @MarketsAlert
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com.
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SOURCE WeissLaw LLP