HENDERSONVILLE, TN / ACCESSWIRE / August 19, 2019 / The Law Offices of Timothy L. Miles, who has been leading the fight to protect shareholder rights for over 18 years, reminds investors that another purchaser of Molson Coors Brewing Company (NYSE:TAP) filed a shareholder derivative complaint against the company's officers and directors for alleged breaches of fiduciary duties. Molson Coors manufactures, markets, and sells beer and other malt beverage products in the United States and internationally.
Molson Coors Accused of Misrepresenting Its Financial Condition
According to the complaint, since 2017, Molson attested to the accuracy of its financial reporting and internal control over financial reporting. Therefore, it came as a surprise to investors when Molson revealed in February 2019 that its financial statements for the years ended December 31, 2016 and December 31, 2017, would be restated because the company found a material weakness in its internal control over financial reporting. The company cited errors in the accounting for income taxes related to the deferred tax liabilities for its partnership in MillerCoors, LLC. As a result, Molson would need to increase its deferred tax liabilities and deferred tax expense by $399.1 million, with a corresponding decrease in net income and earnings per share. On this news, Molson's stock fell over 9% to close at $59.19 per share on February 12, 2019, and has yet to recover.
The Law Offices of Timothy L. Miles Encourages Molson Shareholders to Contact the Firm
If you purchased Molson securities, have information, or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Timothy L. Miles, Esquire, at 615-587-7384, Toll-Free at 855-846-6529, or by email to firstname.lastname@example.org. If you inquire by email please include your mailing address, telephone number, and the number and dates of shares purchased.
About Timothy L. Miles
Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles was recentely selected as a 2019 Elite Lawyer of The South by Martindale-Hubbell® and ALM and maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, a superb rated attorney by Avvo, and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019). Awards: 2019 Elite Lawyer of The South by Martindale-Hubbell® and ALM (2019); Member of the Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association (2017-2019); AV® Preeminent™ Rating by Martindale-Hubble® (2014-2019); PRR AV Preeminent Rating on Lawyers.com (2017 & 2019); The Top-Rated Lawyer in Litigation™ for Ethical Standards and Legal Ability (Martindale-Hubble® 2015); Distinguished Lawyer, Recognizing Excellence in Securities Law, Lawyers of Distinction (2019); Superb Rated Attorney (Avvo); Avvo Top Rated Lawyer for 2017 & 2018 (Avvo).
SOURCE: The Law Offices of Timothy L. Miles