Molson Coors Brewing Company (NYSE: TAP)

RM LAW, P.C. announces that a class action lawsuit has been filed on behalf of all persons or entities that purchased Molson Coors Brewing Company (“Molson Coors” or the “Company”) (NYSE: TAP) between February 14, 2017 and February 11, 2019, inclusive (the “Class Period”).

Molson Coors shareholders may, no later than April 16, 2019, move the Court for appointment as a lead plaintiff of the Class.  If you purchased shares of Molson Coors and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

The complaint filed in this class action alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) Molson Coors failed to properly reconcile the outside basis deferred income tax liability for Molson Coors’ investment in its MillerCoors, LLC partnership; (2) consequently, Molson Coors misreported net income in its consolidated financial statements for the fiscal years ending December 31, 2016 and December 31, 2017, resulting in an overall downward revision to net income; (3) Molson Coors lacked adequate internal controls over financial reporting; and (4) as a result, defendants’ statements about Molson Coors’ business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On February 12, 2019, Molson Coors announced that it would restate its financial statements for fiscal years 2016 and 2017 after the audit committee found errors in Molson Coors’ financial reporting. On this news, Molson Coors’ share price fell $6.17, or more than 9.4%, to close at $59.19 per share on February 12, 2019, thereby injuring investors.

If you are a member of the class, you may, no later than April 16, 2019, request that the Court appoint you as lead plaintiff of the class.  A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Under certain circumstances, one or more class members may together serve as “lead plaintiff.”  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff.  You may retain RM LAW, P.C. or other counsel of your choice, to serve as your counsel in this action.