Monster Beverage (MNST) Slammed as State AG Probe Energy Drink
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Shares of Monster Beverage Corporation (Nasdaq: MNST) are under pressure early Friday following a disclosure that a unidentified state attorney general is investigation its Monster Energy® brand of energy drinks.
From the 10-Q Filing:
In July 2012, the Company received a subpoena from a state attorney general in connection with an investigation concerning the Company’s advertising, marketing, promotion, ingredients, usage and sale of its Monster Energy® brand of energy drinks. As the investigation is in an early stage, it is unknown what, if any, action the state attorney general may take against the Company, the relief which may be sought in the event of any such proceeding or whether such proceeding could have a material adverse effect on the Company’s business, financial condition or results of operations.
Shares of MNST last traded at $57.74, down 5.6 percent.
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From the 10-Q Filing:
In July 2012, the Company received a subpoena from a state attorney general in connection with an investigation concerning the Company’s advertising, marketing, promotion, ingredients, usage and sale of its Monster Energy® brand of energy drinks. As the investigation is in an early stage, it is unknown what, if any, action the state attorney general may take against the Company, the relief which may be sought in the event of any such proceeding or whether such proceeding could have a material adverse effect on the Company’s business, financial condition or results of operations.
Shares of MNST last traded at $57.74, down 5.6 percent.
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