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Wednesday, April 17, 2024
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Monster to pay $16.5M to settle shareholder suit

By  Sun-Times Wire
   
SHARE Monster to pay $16.5M to settle shareholder suit

Monster Beverage Corp. reached a $16.25 million settlement with shareholders who said the company overstated the financial benefits of a distribution arrangement with Anheuser-Busch, Reuters reports. Monster denied wrongdoing agreeing to the cash settlement, which still needs court approval.

Shareholders led by the Structural Ironworkers Local Union #1 Pension Fund in Forest Park, claimed the record results posted in 2007 by the maker of Monster Energy and Allied drinks were inflated.

Monster Beverage in $16.25 million ‘channel-stuffing’ settlement (Reuters)

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