Molson Coors Tries To Slip Investor Suit Over Tax Reporting
Law360 (January 24, 2020, 2:28 PM EST) -- Molson Coors Beverage Co. urged a Colorado federal court on Thursday to let it out of a suit accusing the beer company of underreporting its taxes, arguing the investors failed to show that it intentionally or recklessly misrepresented its financial situation.
That deficiency means the lead plaintiffs, a pair of New York pension funds, don't meet the "stringent" pleading requirements outlined by the Private Securities Litigation Reform Act, Molson Coors asserted in its dismissal bid.
"Like many before them, plaintiffs attempt — but fail — to state a securities fraud claim based on the mere allegation that Molson restated its financials,"...
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