Jan 31, 2012 10:57 AM by AP

Judge dismisses Green Mountain Coffee lawsuit

BURLINGTON, Vt. (AP) - A federal judge has dismissed a lawsuit against Vermont's Green Mountain Coffee Roasters that alleged accounting fraud.
U.S. District Judge William Sessions III said the plaintiffs - a group of investors in the company - had not presented any facts that indicated "a strong inference" of fraud. The Burlington Free Press reports ( he dismissed the suit Friday, but left the door open for the group to re-file their lawsuit in 30 days.
The suit was filed by a Louisiana retirement fund after the company's share price sank following a critical report about tis business and the company recorded lower-than-expected revenue. The company has since restated its financial statements acknowledging overstatements of income totaling about $9 million because of accounting errors, but denied any misconduct.


»Topics in this article

Top Videos

1 2 3 4

Most Popular