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Hagens Berman Investigating Potential Securities Fraud by Green Mountain Coffee

^{Published on 2010-10-04 16:55:38 - Market Wire}
 

SAN FRANCISCO--([ BUSINESS WIRE ])--Hagens Berman Sobol Shapiro LLP announced it is investigating allegations of potential securities fraud made against Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR) in U.S. District Court in Vermont on behalf of purchasers of the Companya™s common stock between July 28, 2010 and September 28, 2010.

Hagens Berman is also looking into the facts surrounding the September 28^th announcement by Green Mountain regarding an inquiry by the U.S. Securities and Exchange Commission into admitted accounting irregularities.

Under the Dodd-Frank Wall Street Reform and Consumer Protection Act signed into law in July, the SEC can award between 10 percent and 30 percent of any monetary sanctions of more than $1 million to whistleblowers who provide aoriginal informationa leading to a successful SEC enforcement.

Whistleblowers may remain anonymous by working through a private attorney in conveying the information to the SEC. Under the new law, whistleblowers are also granted expanded rights and protections against employer retaliation when disclosing information of corporate wrongdoing to the SEC.

Hagens Bermana™s investigation is focused, among other things, on the reasons behind recent revenue recognition practices, the relationship between Green Mountain and its fulfillment vendors, including M Block & Sons Inc. (which accounted for 51 percent of the Companya™s accounts receivable last year) and the possibility that channel stuffing may have hidden slowing growth. The investigation goes back to 2007 when management admits that its accounting irregularities arose.

Following the announcement of the accounting irregularities and the SEC inquiry, shares of the Company declined in after-hours trading by more than 15 percent a" from a close of more than $37 per share to a low of $27.47 per share.

Details of the investigation can be found at [ http://www.hbsslaw.com/cases-and-investigations/GMCR ]. If you have information regarding this matter, or you purchased Green Mountain stock before September 28, 2010, you are encouraged to call Hagens Berman partner Reed R. Kathrein at 510-725-3000 for a personal consultation, or contact the Hagens Berman legal team at [ GMCR@hbsslaw.com ].

About Hagens Berman

Seattle-based Hagens Berman Sobol Shapiro LLP represents whistleblowers in cases under the federal False Claims Act and state false claims acts. The firm also specializes in [ Wall Street Reform Whistleblower ]litigation. Hagens Berman has offices in Boston, Chicago, Los Angeles, Phoenix, San Francisco and Washington, D.C. Founded in 1993, more about the law firm and its successes can be found at [ www.hbsslaw.com ]. A discussion of the Wall Street tip-off law can be found at [ www.classactiontoday.com ]. Visit the firma™s securities blog at [ www.meaningfuldisclosure.com ].