Faruqi & Faruqi, LLP Is Investigating Green Mountain Coffee Roasters, Inc.

April 3, 2012 - PRLog -- Faruqi & Faruqi, LLP, a national law firm concentrating on investor rights, consumer rights and enforcement of federal antitrust laws, is investigating potential wrongdoing at Green Mountain Coffee Roasters, Inc. (“GMCR” or the “Company”) .  The investigation focuses on whether certain officers and directors of GMCR breached their fiduciary duties by selling company stock based on insider non-public information.      

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Robert Stiller, founder and chairman of GMCR, sold $66.3 million worth of the Company’s stock before it plunged on news that the Starbucks Corporation (“Starbucks”) had developed a rival product to its K-Cup brewing system.  Stiller's combined sales on Feb. 15 and 24 were his largest in a single month since at least 2003, when the stock traded below $2.  He would have earned $13.7 million less had he sold on March 9, when the shares fell 16 percent after Starbucks unveiled its machine for home-brewing single cups of espresso.    

In a March 9 regulatory filing, Green Mountain acknowledged having ”recently learned of Starbucks’s planned initiative in the espresso-based single-cup category.”  Spokesmen for Green Mountain wouldn’t specify what information it received about the plan and when. Starbucks has indicated it informed Green Mountain of its plans before its March 8 announcement but has declined to elaborate on the exact timing.  Other directors also sold Company stock during the same time period.  

Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action and derivative litigation.  The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, through all phases of litigation.  The firm has an experienced trial team which has achieved significant victories on behalf of the firm’s clients.

If you are a current GMCR shareholder, and you would like to discuss your legal rights, visit www.faruqilaw.com/GMCR.  You can also contact us by calling Beth Keller toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to bkeller@faruqilaw.com.

Contact:

Faruqi & Faruqi, LLP
Beth Keller, Esq.
369 Lexington Avenue, 10th Floor
New York, NY 10017
Telephone: (877) 247-4292 or (212) 983-9330
E-mail: bkeller@faruqilaw.com



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