Monster's White Execs Hit With Derivative Suit Over Diversity
Law360 (September 18, 2020, 11:10 PM EDT) -- A Monster Beverage Corp. investor hit the beverage giant's top brass with a derivative shareholder lawsuit Friday, claiming they've falsely touted the company's commitment to diversity when in reality they haven't given minorities any meaningful representation in the company's top ranks.
In a 137-page complaint, investor Frank Falat accuses the Corona, California-based company, CEO Rodney C. Sacks, Chief Financial Officer Hilton H. Schlosberg, President of Americas Emelie C. Tirre and six board members of violating the U.S. Securities Exchange Act and federal regulations by repeatedly lying in financial reports about the company's efforts to promote diversity.
"Monster's board and senior executive...
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