2nd Circ. Puts Away Green Mountain Coffee Investor Suit

Law360, New York (June 17, 2014, 3:49 PM EDT) -- The Second Circuit on Tuesday declined to revive a putative class action by shareholders of Green Mountain Coffee Inc., saying the company's alleged misrepresentations were protected by safe harbor provisions that shielded it from liability.

A two-judge panel found that Kambiz Golesorkhi and William C. Dailey had failed to sufficiently back their claims that Vermont-based Green Mountain misled investors in multiple communications in early 2012, and had failed to meet the standard required by the Private Securities Litigation Reform Act for the claims to move forward. Also, the complaint had not adequately alleged that Green Mountain knew it was committing an...

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