The information contained on this web page is only a summary of information presented in more detail in the Notice of (I) Pendency of Class Action and Class Certification; (II) Proposed Settlement; (III) Motion for an Award of Attorneys' Fees and Reimbursement of Litigation Expenses; and (IV) Settlement Fairness Hearing (the “Notice”). Because this website is just a summary, you should review the Notice for additional details.
This action, captioned Louisiana Municipal Police Employees' Retirement System, et al. v. Green Mountain Coffee Roasters, Inc., et al., Civil Action No. 2:11-CV-00289-WKS (the “Action”), was brought in the United States District Court for the District of Vermont (the “Court”). The Action alleges that Defendants violated the federal securities laws by making false and misleading statements regarding Green Mountain. More specifically, the Action alleges that, during the Class Period (i.e., February 2, 2011 through November 9, 2011, inclusive), Defendants misrepresented Green Mountain as a company that was straining capacity and struggling to build enough inventory to satisfy demand for its products, when in fact, as the Action further alleges, Defendants knew or should have known that the Company was experiencing serious problems with inventory controls and concerns about ballooning inventory levels.
The Court-appointed Lead Plaintiffs, Louisiana Municipal Police Employees’ Retirement System, Sjunde AP-Fonden, Board of Trustees of the City of Fort Lauderdale General Employees’ Retirement System, Employees’ Retirement System of the Government of the Virgin Islands, and Public Employees’ Retirement System of Mississippi (collectively, “Lead Plaintiffs”), on behalf of themselves and the Class (as defined below), have reached a settlement of the Action for $36.5 million in cash (the “Settlement”).
Following a hearing on October 22, 2018, the Court entered the Judgment finally approved the Settlement and resolving all claims in the Action. The Court also entered separate Orders approving the Plan of Allocation for the proceeds of the Settlement and awarding Plaintiffs’ Counsel attorneys’ fees and reimbursement of Litigation Expenses.
The Class consists of:
All persons or entities who purchased or otherwise acquired Green Mountain common stock during the period between February 2, 2011 and November 9, 2011, inclusive, and who were damaged thereby, except for certain persons and entities who are excluded from the Class by definition (see, paragraph 24 of the Notice).