Eileen oversees the firm’s securities practice and has over a decade of experience in the legal world. She received her law degree from American University in 2005.
Molson Coors (TAP) Investor Lawsuit Investigation
Get compensation you're owed for TAP losses
Molson Coors Brewing Company (NYSE: TAP) stock plummeted after news that an audit of Molson Coors’s financials showed that the company’s accountants had incorrectly calculated its tax liability, resulting in Molson Coors overstating its net profits by $400 million.
If you’re a TAP investor, we can help you seek to recover your losses from Molson Coors for miscalculating its tax liability and misleading investors about its profitability.
Recover Your TAP Stock Losses
Molson Coors (NYSE: TAP) Stock Drops After Audit Finds Errors in Financial Reporting
On February 12, 2019, Molson Coors announced that it need to revise its financial statements for fiscal years 2016 and 2017 after an audit found material errors in Molson Coors’s financial reporting. The company (with ticker symbol TAP) reported that the accounting problems arose out of its joint venture with SABMiller. Molson Coors says that its accounting practices understated the amount of its deferred tax liability and income tax expenses. As a result, Coors says that TAP’s net profits were actually $400 million lower than what it had reported for 2016 and 2017.
Following this disclosure, Molson Coors’s stock price fell more than 7% in pre-market trading and continued to decline an additional 3% in the following two days.
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Our securities lawyers have recovered over a billion dollars on behalf of our clients against behemoths, such as Chase Bank, Mastercard, and Anthem Blue Cross Blue Shield. Read more about our results.
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Recover your TAP stock losses
You may be able to recover your stock losses in a securities lawsuit. Free consultations.