NEW YORK, Aug. 29, 2012 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Monster Beverage Corp. ("Monster" or the "Company") (NASDAQ: MNST), concerning whether the board has breached its fiduciary duties to shareholders.
On August 9, 2012, Monster filed a quarterly report on Form 10-Q with the SEC in which it disclosed he Company had received a subpoena from a state attorney general regarding its "advertising, marketing, promotion, ingredients, usage and sale of its Monster Energy brand of energy drinks."
On August 28, 2012 after the markets closed, The Wall Street Journal reported that New York Attorney General Eric Schneiderman had begun an investigating into whether Monster has deceived consumers about the ingredients and health value of the Company's products. The Attorney General's investigation concerns whether the "benefits of exotic-sounding ingredients" have been overstated while the dangers of stimulants in the caffeinated energy drinks have been downplayed. Monster's energy drinks represented over 90% of the Company's revenue in 2011.
Our investigation concerns whether the Monster board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.
If you own Monster shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq. Matthew M. Houston, Esq. Benjamin Sachs-Michaels, Esq. Harwood Feffer LLP 488 Madison Avenue New York, New York 10022 Phone Numbers: (877) 935-7400 (212)935-7400 Email: [email protected] Website: http://www.hfesq.com
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.