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)