SAN DIEGO, July 27, 2021 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces an update in the lawsuit that was filed by an investor in Monster Beverage Corporation (NASDAQ: MNST).
Investors, who purchased shares of Monster Beverage Corporation (NASDAQ: MNST) long-term and continue to hold any of their NASDAQ: MNST shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On September 18, 2020, a lawsuit was filed against certain directors and officers of Monster Beverage Corporation (“Monster Beverage”). The plaintiff alleged, among other things, that certain directors and officers of Monster Beverage breached their fiduciary duties to the Company by allowing others to cause, or themselves causing, the Company to hide discrimination and failing to ensure sufficient diversity, including by permitting conduct to occur that was inconsistent with statements made in the Company’s policies and disclosures, and failing to ensure the Company’s compliance with laws regarding diversity and anti-discrimination. The complaint also asserts claims for abuse of control, unjust enrichment, and violation of Section 14(a) of the Securities Exchange Act of 1934, as amended. The complaint seeks from certain directors and officers of Monster Beverage an unspecified amount of damages, restitution, punitive damages and costs to be paid to the Company, and seeks to require the Company to adopt corporate governance reforms, and other equitable relief.
On January 15, 2021, Monster Beverage, who is a nominal defendant, and certain of its directors and officers filed motions to dismiss the complaint. Those motions are scheduled for hearing in the 2021 second quarter.
Those who purchased NASDAQ: MNST shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.