CURRENT SHAREHOLDERS: Zamansky LLC Investigates Molson Coors Brewing Company (TAP) for Potential Breaches of Fiduciary Duties
February 15 2019 - 2:45PM
Business Wire
Zamansky LLC announces that it is investigating Molson Coors
Brewing Company (NYSE:TAP) (“Molson Coors” or the “Company”) for
potential breaches of fiduciary duties. Specifically, the
investigation concerns the Company’s accounting practices and its
purported failure to properly reconcile its deferred income tax
liability for Molson Coors’ investment in its MillerCoors, LLC
(“MillerCoors”) partnership. If you are a Molson Coors shareholder
and still hold your TAP shares, please contact our firm for further
information.
Pursuant to a recent SEC filing, Molson Coors has 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 financials
were misstated. Further, Molson Coors has disclosed that it will
restate its 2016 and 2017 financials 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.” Following release of this news, Molson Coors shares
have declined nearly 10% in value.
According to Jake Zamansky, an investment fraud attorney, Molson
Coors’ officers and directors owe the Company and its shareholders
fiduciary duties. “Our initial analysis of Molson Coors and its
accounting practices suggests shareholders may have suffered
damages as a result of the Company’s previously misstated
earnings,” Zamansky says. “As we continue our investigation into
this matter, our law firm will review whether certain of Molson
Coors’ officers and directors may have breached their duties to the
Company.”
What Molson Coors Shareholders Can Do
If you are a current shareholder of Molson Coors, please contact
us to review or discuss your legal rights. You may, without
obligation or cost to you, email jake@zamansky.com or call the law
firm at (212) 742-1414.
About Zamansky LLC
Zamansky LLC is a leading investment fraud law firm with
experience handling securities, hedge fund, ERISA and other
shareholder class action and derivative litigation. We are
investment fraud attorneys who represent both individual and
institutional investors. Our practice is nationally recognized for
our ability to aggressively prosecute cases and recover investment
losses.
To learn more about Zamansky LLC, please visit our website,
http://www.zamansky.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190215005525/en/
Zamansky LLCJake Zamansky, 212-742-1414jake@zamansky.com
Molson Coors Beverage (NYSE:TAP)
Historical Stock Chart
From Mar 2024 to Apr 2024
Molson Coors Beverage (NYSE:TAP)
Historical Stock Chart
From Apr 2023 to Apr 2024